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Billionaire John Paulson’s Favorite Healthcare Stocks Include The Latest Industry Punching Bag, Mylan

Allergan plc Ordinary Shares (NYSE:AGN)

– Shares Owned by Paulson & Co (as of June 30): 3.95 million

– Value of Paulson & Co’s Holding (as of June 30): $912.45 million

Paulson & Co unloaded 27% of its stake in Allergan plc Ordinary Shares (NYSE:AGN) during the second quarter, selling about 1.47 million shares of the company. Allergan reported second quarter EPS of $3.35 on $3.68 billion in revenue, beneath the Street’s consensus estimates of $3.34 for EPS and $4.1 billion for revenue. Earlier this month, Allergan announced its plan to acquire ForSight Vision5, a privately-held biotech firm for which it will pay $95 million up front plus a milestone payment next year if ForSight’s innovative glaucoma treatment device receives FDA approval. Of the 749 funds in our database that filed a 13F for the June 30 reporting period, 131 were long Allergan plc Ordinary Shares (NYSE:AGN), notably down from 170 funds a quarter earlier. Activist investor Carl Icahn bought 3.4 million shares of Allergan in the second quarter.

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– Shares Owned by Paulson & Co (as of June 30): 22.03 million

– Value of Paulson & Co’s Holding (as of June 30): $952.49 million

Mr. Paulson and his team sold 1.31 million shares of Pennsylvania-based pharmaceutical company Mylan NV (NASDAQ:MYL) in the June quarter, ending the quarter with $952.49 million worth of its stock. That stock took it on the chin this week as Mylan has been facing intense criticism related to the 400% hike in the price of its anti-allergy auto-injector EpiPen. The American Medical Association has urged Mylan to take back the “exorbitant” price hike, while the company is being grilled in the political realm as well. Democratic nominee Hillary Clinton has called the price increase “outrageous” and Senator Amy Klobuchar, a ranking member of the Antitrust Subcommittee of the Senate Judiciary Committee, is calling for a judiciary committee and Federal Trade Commission investigation of the rate increase. Mylan NV (NASDAQ:MYL) shares have lost 25% of their value this past week.

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– Shares Owned by Paulson & Co (as of June 30): 5.19 million

– Value of Paulson & Co’s Holding (as of June 30): $956.22 million

Paulson & Co cut its stake in Shire PLC (ADR) (NASDAQ:SHPG) by 26% during the second quarter, selling around 5.19 million shares of the company and ending the quarter with a position worth $956.22 million, which accounts for 9.7% of the value of the hedge fund’s equity portfolio. JPMorgan Chase & Co. reiterated its ‘Overweight’ rating for the Ireland-based biotech company in a report released on Tuesday. Last week, several reports suggested that Shire was in talks to acquire Raptor Pharmaceutical Corp. (NASDAQ:RPTP) for $800 million. Shire’s stock is down by over 2% so far this year. Andreas Halvorsen’s Viking Global owns over 1.16 million shares of Shire PLC (ADR) (NASDAQ:SHPG) as of June 30.

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Disclosure: None