Valeant Bulls Look to Looming Drug Approvals

Debt-laden Valeant Pharmaceuticals (VRX) appears to have Wall Street pitted against itself. After dipping more than nine percent Wednesday -- following a Real Money report that short-seller Andrew Left is once again shorting the drugmaker -- Valeant shares recovered nearly five percent on Thursday. Bullish analysts are now predicting that just as Valeant prepares to sell several of its businesses, a new lineup of soon-to-be-approved pipeline drugs will help shore up cash - not to mention restore Valeant's tarnished credibility. Valeant could bring in about $1.5 billion in new annual sales if a trio of drugs obtain Food and Drug Administration approval by the end of this month, according to Rodman and Renshaw. What's more, the three drugs could fatten Valeant's bottom line as soon as the fourth quarter if the drugs net approval this month.

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