Why Valeant is Flying on the Eve of Earnings
February 27, 2017 at 10:05 AM EST
Valeant Pharmaceuticals International ( VRX ) will release its 2016 results tomorrow--and analysts don't seem to be expecting good news . But that hasn't stopped shares of the beaten-down specialty pharmaceutical company from trading higher this morning. What's going on? Valeant made two announcements this morning. First, it said that it had hired more than 200 sales people at Salix . Then it announced that it had resubmitted a New Drug Application for Latanoprostene bunod to the FDA . Rodman & Renshaw's Raghuram Selvaraju considers the impact of the latter: