After $600 Million Typo, Valeant CEO Is Back on the Hot Seat
- Conference call gets baffled, angry reaction from investors
- Shares plunge the most ever as analysts question company chief
Valeant Suffers Biggest Drop on Record, What's Next?
This article is for subscribers only.
Michael Pearson and his company, Valeant Pharmaceuticals International Inc., were supposed to calm Wall Street doubters on Tuesday. Instead: chaos.
What began before dawn with disappointing financial news quickly snowballed into the worst day in the drug company’s history, leaving investors wondering if Pearson, its controversial chief, can regain his grip.