Good news for Valeant fails to shake off investor gloom
Valeant Pharmaceuticals International (TRX: VRX) has released positive top-line results from a confirmatory Phase III trial of a new product to treat plaque psoriasis.
Shares in the embattled Canadian pharma company rose by more than 10% before trading opened, but soon settled back to just above pre-announcement levels.
The results come from a multi-center clinical trial to assess the safety and efficacy of its investigational compound IDP-118 (halobetasol propionate and tazarotene).
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