Tag: Valeant Pharmaceuticals

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  • Valeant Pharmaceuticals new CEO Joseph Papa

    Valeant has hired Joseph Papa as its new CEO and chairman

    Valeant Pharmaceuticals has named Joseph Papa as its new CEO and chairman. Papa resigned from his post at competitor Perrigo on Sunday. It was previously reported that Perrigo was prepared to name a new CEO so Papa could join the team at Valeant. The company waved an agreement that would have prevented him from joining a […]

  • Valeant Pharmaceuticals Default

    Valeant Pharmaceuticals just received horrible news from Centerbridge

    Valeant Pharmaceuticals bond investor, Centerbridge, has told the company that they will call a default on the firm, Dow Jones reports. News of the default arrives less than a month after Valeant announced that it had secured an agreement to avoid default and refinance $11 billion in secured loans from 50% of its creditors. The company […]

  • Valeant Pharmaceuticals Trouble

    The fall of Valeant Pharmaceuticals: Here’s everything you need to know

    Valeant Pharmaceuticals has been in the news for several months for a variety of reasons, including investigations by the United States Congress and accusations by Citron Research, run by Andrew Left, that the company was committing fraud. Citron published a damning report in October suggesting that the Canadian-based pharmaceutical company was orchestrating an Enron-like fraud […]

  • Valeant Pharmaceuticals continues to crash

    Valeant is crumbling again after CEO called to testify in front of Senate Committee

    Valeant Pharmaceuticals CEO Michael Pearson has been called to testifying in front of the Senate Committee on Aging on April 27. That equals more bad news for the struggling RX company whose shares fell by almost 8% on the news. The committee’s investigation into Valeant is a bipartisan effort led by Republican Senator Susan Collins of […]

  • Valeant Pharmaceuticals

    Valeant Pharmaceuticals CEO stepping down as Ackman joins the board

    Valeant Pharmaceuticals announced on Monday that its chief executive officer Michael Pearson will step down. At the same time, activist investor William Ackman was appointed to its board. The company also revealed that its financial reports from 2015 lacked the necessary oversight needed to properly report. The company blamed its CFO and controller and the company’s […]

  • Bill Ackman

    Bill Ackman lost $321 million on Monday

    Bill Ackman’s holdings in Valeant Pharmaceuticals cost him $321 million in a single day. Shares of the drugmaker fell more than 18% yesterday, the biggest decline since October, according to data compiled by Bloomberg. T. Rowe Price Group Inc. had a one-day drop of about $324 million, and William Ackman’s Pershing Square Capital Management gave up […]

  • Sequoia Fund

    Sequoia Fund is being sued for ‘reckless’ investment in Valeant Pharmaceuticals

    The investment firm that runs the Sequoia Fund is being sued for its large stake in embattled drug company Valeant Pharmaceuticals International Inc. That investment has cost clients more than $2 billion over the last 12 months. Investment firm Ruane, Cunniff & Goldfarb; portfolio managers Robert Goldfarb and David Poppe; and two directors have been accused of gross […]

  • Valeant Pharmaceuticals

    Valeant Pharmaceuticals CEO will take medical leave following pneumonia hospitalization

    Valeant Pharmaceuticals CEO J. Michael Pearson has announced plans to take medical leave following his hospitalization from pneumonia last week. Shares at the Canadian pharmaceutical company fell 10% in morning trading Monday. Valeant says three executives will take over for Pearson in his absence. His temporary replacements include Executive Vice President and General Counsel Robert Chai-Onn, […]

  • Valeant Pharmaceuticals

    Bill Ackman Now Owns A Larger Chunk Of Valeant Pharmaceuticals

    Activist investor Bill Ackman’s hedge fund has increased its investment in Valeant Pharmaceuticals International. A regulatory filing from the fund says it may begin to play a larger role in the company’s day-to-day operations. Ackman’s Pershing Square Capital Management has increased its stake in Valeant to 9.9% from 5.7%. Shares in the company rose 3.1% […]