Shares of Allergan plc (NYSE:AGN) [Trend Analysis] runs in leading trade, it moving down -2.07% to traded at $227.55. The firm has price volatility of 3.33% for a week and 2.28% for a month. Its beta stands at 1.03 times. Allergan plc (AGN) reported that it will present new data from its irritable bowel syndrome portfolio at the upcoming American College of Gastroenterology Yearly Scientific Meeting in Las Vegas during October 14 to 19. The presentation will be on efficacy and safety of Viberzi or Eluxadoline in IBS-D Patients Who Report Previous Inadequate Symptom Control with Loperamid e and Impact of Baseline Pain Severity on the Efficacy of Eluxadoline in Patients with Irritable Bowel Syndrome with Diarrhea.
Viberzi is a twice daily, oral medication indicated for use in adults suffering from irritable bowel syndrome with diarrhea.The firm stated there is a potential for surged risk of sphincter of Oddi spasm, resulting in pancreatitis or hepatic enzyme elevation associated with acute abdominal pain with Viberzi. These events were reported in less than 1% of patients. Narrow down four to firm performance, its weekly performance was -4.76% and monthly performance was -7.67%. The stock price of AGN is moving down from its 20 days moving average with -4.31% and isolated negatively from 50 days moving average with -6.11%.
Fortis Inc. (NYSE:FTS) and GIC Private Limited reported the closing of the about US$11.3 billion acquisition of Novi, Michigan-based ITC Holdings Corp. The Federal Energy Regulatory Commission sets rates for about 30% of the Corporation’s regulated rate base. Rate setting for the balance of the Corporation’s regulated rate base is largely governed by state and provincial bodies in the jurisdictions in which the Fortis utilities operate.
“Recently is a special day for Fortis and ITC,” stated Barry Perry, President and Chief Executive Officer of Fortis. “Our teams have worked tirelessly over the past year to make this acquisition happen, and we couldn’t be more happy to welcome ITC to the Fortis group of utilities. The ITC acquisition is the largest in the history of Fortis, dramatically increasing our North American footprint. It establishes important scale and a new platform in the electric transmission sector.”
Welch stated, “I am grateful for the hard work of the ITC employees and management team in building this great firm and look forward to a bright future of continued operational excellence. ITC’s leadership team is well positioned for success as a part of the Fortis portfolio.”