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Chief leaves troubled drug-maker Valeant
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Chief leaves troubled drug-maker Valeant
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Chief leaves troubled drug-maker Valeant
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Newspaper Article
Chief leaves troubled drug-maker Valeant
2016
Overview
Mr [Michael Pearson]'s downfall has been as spectacular as that of [Valeant], which has lost almost 90 per cent of its value since last summer. A former management consultant, he took Valeant from relative obscurity to a permanent position in the headlines in the financial press - initially for its aggressive merger and acquisitions policy, founded on cheap debt. Valeant's problems didn't end there. Just as its pricing policy was beginning to gain wider (and unpleasant) attention, so its other business practices were being called into question. A California-based equity research company, Citron, drew attention to Valeant's reliance on a shady sales partner, Philidor, resulting in a forced restatement of earnings.
Publisher
Independent Digital News & Media
Subject
