Does Ackman's Exit Finally Signal A Bottom For Valeant?
Last summer, when Valeant Pharmaceuticals was trading at about $20 per share, I had an analyst at an investment firm tell me the stock had bottomed – I was a little more than skeptical at the time, and expressed my pessimistic view that the company still had further to fall.
He wrote me off, telling me we had seen all the bombshells – Philidor, drug pricing, Mike Pearson's sudden illness and rapid exit, the backlash to R&D – and that the stock was poised for a turnaround.
He wrote me off, telling me we had seen all the bombshells – Philidor, drug pricing, Mike Pearson's sudden illness and rapid exit, the backlash to R&D – and that the stock was poised for a turnaround.