PPR - VRX 6/19/13
Drug manufacturer VRX had a pocket pivot in yesterday's trade. It was a midbar close despite the market which closed near its peak. That said, VRX overall continues to look strong. Institutional sponsorship has climbed over the last 4 quarters, industry group rank 38 out of 202.
VRX recently acquired Bausch & Lomb Holdings Inc.. It expects to achieve at least $800 million in annual cost savings by the end of next year and expects the deal to immediately boost cash earnings.
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