Valeant (VRX) Stock Down on Concerns About Glaucoma Treatment

Valeant (VRX) stock is lower this morning after the FDA decided against approving its glaucoma treatment.
By Rachel Graf ,

NEW YORK (TheStreet) -- Shares of Valeant Pharmaceuticals (VRX) are declining 3.02% to $23.74 in early-morning trading on Friday after the FDA failed to approve a Bausch & Lomb glaucoma treatment. 

In a complete response letter (CRL) about an eye drop for a type of glaucoma, the agency raised concerns about manufacturing issues at a Bausch & Lomb facility. 

The letter did not mention any efficacy or safety concerns related to the eye drop, Valeant said in a statement.

The drugmaker said it will meet with the FDA to address the concerns. 

Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.

Valeant's weaknesses include its deteriorating net income, generally high debt management risk, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

You can view the full analysis from the report here: VRX

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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