Valeant CEO's Calls With Analysts Raise Disclosure Questions
- Shares rose 8% as analyst recounted private talk with CEO
- An early chance to take Pearson's measure after long hiatus
Valeant CEO Makes His Case Right to Analysts
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To recap Mike Pearson’s first week back at Valeant Pharmaceuticals International Inc.: Last Monday, returning from a two-month sick leave, the chief executive officer canceled his welcome-back call with analysts. The next day, he talked one-on-one with some of the analysts who’d been bullish on his embattled company. Soon, those analysts were spreading word to their clients: Pearson was getting up to speed and taking care of business.
The reassurances appeared to cheer investors. One of those analysts called a web chat for 2 p.m. Tuesday, March 1, to tell his clients what he’d learned from Pearson. In the next hour, Valeant shares rose more than 8%.