Is Allergan plc a Bargain After a $7.6 Billion Dip in September?
According to data from S&P Global Market Intelligence, Botox-maker Allergan (NYSE: AGN) shed 10% of its value -- which equates to approximately $7.6 billion of its market cap -- last month. This sizable drop appears to be the result of two underlying issues:
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Allergan has reportedly been looking to dump a good chunk of its share in Teva, but that route no longer looks feasible. Teva, after all, has been a bad news machine lately, with the U.S. Food and Drug Administration granting approval for both doses (40 mg 3x/week injection and the 20 mg/daily injection) of Mylan's (NASDAQ: MYL) generic version of Copaxone last week.
Source: Fool.com
