Valeant Pharmaceuticals adds prominent U.S. investor John Paulson to board

Valeant Pharmaceuticals adds prominent U.S. investor John Paulson to board

LAVAL, Que. — Valeant Pharmaceuticals International Inc. (TSX:VRX) says prominent U.S. investor John Paulson has joined its board of directors.

His New York-based investment firm Paulson & Co. is currently Valeant’s largest shareholder, with about 5.7 per cent of the Quebec-based company’s outstanding shares.

Paulson supported Valeant in 2014 during its unsuccessful attempt to buy Botox maker Allergan Inc., which eventually went to a rival bidder.

At the time, Valeant was led by J. Michael Pearson, who left last year after the company’s stock price plunged from its August 2015 peak.

Paulson says he supports Valeant’s leadership team and its plan to sell non-core assets to reduce debt.

His appointment was effective June 14.

The Canadian Press

…………………………………………………………………………………………………………….……………………………The_Quebec_Book_cover_Promo_small

Would you like to support a project based right here in Quebec?

This book is being co-authored by two people who are passionate about Quebec and everything it has to offer. One of the authors moved to the region some years ago while the other was born and raised in Quebec.

The Québec Book is a unique guide for anyone interested in learning about Quebec culture and the language spoken here. You could be someone visiting Québec, planning to move to Québec, or already living here. Or maybe you’re a native English speaker, a native French speaker, or a speaker of any other language for that matter.

Pre-Order The Québec Book Now and Receive a Bonus!

Categories: Business, International

About Author

Write a Comment

Only registered users can comment.