Valeant’s sweetened offer values Allergan at about $49.9 billion, based on 303.5 million shares outstanding. Valeant’s New York-listed shares dropped 1.7 percent in midafternoon to $127.61, while Allergan stock lost 4.5 percent to $157.67. Valeant raised its cash component to $58.30 per Allergan share, compared with its previous offer of $48.30. The stock component remains at 0.83 of a Valeant share for each Allergan share.