Valeant Plunges the Most Ever on Forecast Cut, Warning Over Debt
During a two-hour call with analysts, Chief Executive Officer Mike Pearson was questioned about why he was the right man to lead the drugmaker. Adding to the company’s problems, during the call it corrected its press release issued hours before, saying that one measure of earnings would actually be lower than it had stated.
“How can we be confident in what you’re saying about the business, given you were positive in December, and January?”
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