3/20/2014 8:28:02 AM
After Valeant Pharmaceuticals International Inc. (VRX) bought Bausch & Lomb Inc. for $8.7 billion last year, Chief Executive Officer Mike Pearson discovered the budget for the eyecare company’s communications team was 13 times the size of his own. Pearson set about cutting the budget and dismantled Bausch & Lomb’s structure of regional offices, costs he said are emblematic of how inefficient drug companies remain. Corporate excess is catnip to Pearson as he searches for acquisitions to meet his goal of making Valeant one of the world’s top five drugmakers by the end of 2016.
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