Redmile Group LLC is a fully registered professional investment advisor that works on percentage on assets under management and performance based fees. The firm has its bases in San Francisco, U.S. The SEC 13F filings of Redmile Group LLC for the period ended September 30, 2014, indicated that its top three holdings are Valeant Pharmaceuticals Intl Inc (NYSE:VRX), Actavis plc (NYSE:ACT), and Clovis Oncology Inc (NASDAQ:CLVS).
The topmost investment of Redmile Group LLC was Valeant Pharmaceuticals Intl Inc (NYSE:VRX), with a total of $43.63 million. Valeant Pharmaceuticals Intl Inc (NYSE:VRX) is a pharmaceutical company that develops and sells dermatology, neurology, and infectious diseases medicines. Valueact Capital was the largest holder of the company shares for the quarter with a total of 18.92 million shares. Lone Pine Capital came in second with a total of 10.99 million shares in total. (You can see complete list on hedge funds which hold positions on Valeant Pharmaceuticals Intl Inc (NYSE:VRX) at the end of the third quarter).
Actavis plc (NYSE:ACT) was second on the list with investment totaling to $39.55 million in value. Actavis plc (NYSE:ACT) is an integrated specialty pharmaceutical holding company whose main activity is developing, production, and sale of pharmaceutical and biosimilar products. The company is set to lay off up to 200 of its workers in Corona, in a bit to cut down on costs and enhance efficiency. Actavis plc (NYSE:ACT) has also recently launched a generic version of Intuniv, a Shire’s developed drug for the treatment of ADHD among those aged between 6-17 years of age.
Clovis Oncology Inc (NASDAQ:CLVS) was the third largest investment of Redmile Group LLC with a total of $35.58 million. Clovis Oncology Inc (NASDAQ:CLVS) is a company that focuses on the development and commercialization of personalized medicines for persons suffering from cancer. The company recently received a “neutral” rating from Citigroup Inc analysts. The firm has given Clovis Oncology Inc (NASDAQ:CLVS) a price target of $60, $7 above their previous target of $53.
This article has been written by Victor Ochieng.