Valeant Surges on Higher Profit Forecast, Outlook for More Deals
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Valeant Pharmaceuticals International Inc. shares jumped the most in more than three months after boosting its forecast for profit this year and predicting a steady flow of acquisitions.
The stock climbed 7.5 percent to $155.98 at 9:44 a.m., the biggest intraday increase since Sept. 24. It surged as high as $156.60 earlier, a record. Shares of the drugmaker, based in Laval, Quebec, rose 22 percent last year, compared with a 19 percent gain for the Standard & Poor’s 500 Pharmaceuticals Index.