2Q EARNINGS: Allergan boosts sales, cuts jobs, provokes Valeant
This article was originally published in Scrip
Executive Summary
With a 23.8% rise in second quarter earnings and a plan to cut $475m in 2015 expenses, including 1,500 jobs, Allergan thwarted an unsolicited $54bn acquisition bid by Valeant Pharmaceuticals with its continued assertion that the company doesn't need Valeant's money to increase its value.