Why Wall Street Can't Stop Talking About Potential 'Baby Valeant' Concordia
The biggest disaster for Wall Street in the past year was Valeant Pharmaceuticals, the drug company whose stock has lost about 90% of its value since October.
Of course not everybody lost. Valeant was targeted by short sellers who made a bundle on the stock's plunge.
And they're looking everywhere in the market for companies that may share Valeant's losing business strategy of using debt-funded acquisitions to grow their product line (rather than R&D), and then jack up the price of those acquired drugs.
Of course not everybody lost. Valeant was targeted by short sellers who made a bundle on the stock's plunge.
And they're looking everywhere in the market for companies that may share Valeant's losing business strategy of using debt-funded acquisitions to grow their product line (rather than R&D), and then jack up the price of those acquired drugs.