Biotech Values

[DewDiligence]

VRX in pursuit of ZTS, says WSJ:

http://www.wsj.com/articles/valeant-makes-takeover-approach-to-zoetis-1435262327

Valeant Pharmaceuticals International Inc. has made a preliminary approach to buy animal-health giant Zoetis Inc., people familiar with the matter said, in a move that could presage a big deal in yet another corner of the health-care industry.

Zoetis, which was spun off from Pfizer Inc. in 2013, is the largest seller of vaccines and medicines for livestock and household pets and had a market capitalization of nearly $25 billion on Thursday afternoon before The Wall Street Journal reported the approach.

Zoetis shares, which were already trading at all-time highs, rose 11% on the news to close at $55.38.