Funding roundup: Valeant, Eagle

Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX) and Eagle Pharmaceuticals Inc. (NASDAQ:EGRX) raised $1.5 billion in follow-on offerings on Tuesday.

Valeant raised $1.45 billion through the sale of 7.3 million shares in the U.S. at $199. Deutsche Bank; HSBC; MUFG; DNB Markets; Barclays; Morgan Stanley; RBC Capital Markets; and SunTrust Robinson Humphrey were underwriters. Valeant proposed the offering after market on Monday, when its shares closed at $202.34 on NYSE. The stock gained $1.61 to $200.73 in New York on Tuesday, and dipped C$2.14 to C$256.28 in Toronto. Valeant is acquiring Salix Pharmaceuticals Ltd. (NASDAQ:SLXP) for $11.4 billion (see BioCentury Extra, March 16). ...