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.
