At Pearson's private meeting with employees, he assured them that there were no more "shoes to drop" about the company. Valeant was forced to change its business model at the end of last year it announced that it would no longer hike prices and instead depend on volume to generate revenue. Claire McCaskill of Missouri have blasted the company for it.Ĭombine that anger with allegations of malfeasance from a short seller, the discovery of its close relationship with a mysterious specialty pharmacy called Philidor, and multiple investigations from the Securities and Exchange Commission and state attorney's offices and you have yourself the extreme stock plummet that Valeant has been experiencing since October. Politicians including former Secretary of State Hillary Clinton and Sen. Valeant spent an industry low of 3% of its revenue on research and development, and it often dramatically hiked the prices of the drugs it acquired. It was this model, in part, that ultimately drew scrutiny to the company. Allergan slipped through the company's fingers, but Ackman stayed around, cheering on Valeant's acquisition-based growth model. That was when he helped the company try to acquire its biggest target ever, Allergan Pharmaceuticals.
Ackman has been involved with Valeant since 2014. That could create some tension in Ackman and Pearson's relationship.
Account icon An icon in the shape of a person's head and shoulders.
0 kommentar(er)
