Investing.com - Financial Markets Worldwide
🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

UPDATE 1-Valeant to name four new directors as soon as Friday -WSJ

Published 2016-04-27, 09:38 p/m
© Reuters. UPDATE 1-Valeant to name four new directors as soon as Friday -WSJ
PSON
-
BHC
-
PRGO
-

(Adds background on reported board changes)
April 27 (Reuters) - Drugmaker Valeant Pharmaceuticals (NYSE:VRX)
International Inc VRX.TO is expected to name four new
directors as soon as Friday, the Wall Street Journal reported.
Five of its long-standing directors, including activist firm
ValueAct's Mason Morfit, have agreed to step down to make room
for the new nominees, the Journal reported, citing people
familiar with the matter. (http://on.wsj.com/1rjdY27)
The names of the new directors could not be learned, but
they draw heavily from traditional pharmaceutical companies, the
newspaper said citing the people.
Valeant chairman Robert Ingram is also considering leaving,
the report said, citing a source.
New Chief Executive Joseph Papa, former Perrigo Co (NYSE:PRGO) Plc
PRGO.N head, will join the board and take on the role of
chairman, the report said.
The drugmaker on Monday said Papa, a drug-industry veteran,
would replace Michael Pearson (LON:PSON) as its CEO.
Valeant was not available to comment outside of regular U.S.
business hours.
Separately, activist investor William Ackman, speaking
before a U.S. Senate special committee, promised lawmakers that
he will urge the board of Valeant to reduce the high prices of
four life-saving drugs that are now at the heart of two
congressional probes.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.