Allergan rises after David Tepper’s Appaloosa ups pressure on the struggling drugmaker

Health, Fitness & Food

Allergan shares rose Tuesday after renowned hedge fund manager David Tepper increased his pressure on the drugmaker, calling for the company to jump-start the business with new strategies and recommending again that it separate the CEO and chairman roles.

$4.3 billion loss in the fourth quarter as it posted about $5.4 billion in pre-tax impairment charges. It reported last week a loss of $12.83 a share, an about-face compared to profit of $8.88 a share from a year ago. Analysts polled by Refinitiv were expecting a loss of 44 cents a share.

Appaloosa Management has approximately $14 billion of assets under management. The billionaire investor is also the owner of the National Football League team Carolina Panthers.

Advertisements

Products You May Like

Articles You May Like

FDA discourages people against ‘young blood’ infusions, which make unproven claims to reverse aging
‘Young blood’ company Ambrosia halts patient treatments after FDA warning
This Japanese plant could hold the key to extended youth
What to expect from Lupron treatment
How can estrogen help control type 2 diabetes?

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.