The Traderszone Network

Published in TZ Latest News 23 October, 2015 by The TZ Newswire Staff

Valeant stock rebounds, but allegations shrink CEO’s fortune

The value of Chief Executive Mike Pearson’s stake in the company had stood at $2.66 billion when Valeant shares peaked at $263.70 on Aug. 5 on the New York Stock Exchange, according to filings. Laval, Quebec-based Valeant on Thursday moved to reassure investors, saying it would address the allegations in detail on a conference call on Monday. Concerns about Valeant are overblown and based on a misunderstanding of how the U.S. drug supply chain works, she said.