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Valeant CEO Pearson remains hospitalized for pneumonia- Bloomberg

Published 2015-12-27, 04:51 p/m
© Reuters. Valeant CEO Pearson remains hospitalized for pneumonia- Bloomberg
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NEW YORK, Dec 27 (Reuters) - Valeant Pharmaceuticals (N:VRX)
International Inc VRX.TO Chief Executive J. Michael Pearson (L:PSON)
has been moved to another hospital where he is being treated for
a severe case of pneumonia, a company spokeswoman told Bloomberg
on Sunday.
Elaine Andrecovich, a public relations manager at Morristown
Medical Center, where Pearson initially was admitted for
treatment on Friday, confirmed that Pearson is not at the
hospital but declined to provide more details.
Laurie Little, a Valeant spokeswoman, told Bloomberg that
Pearson is still in a hospital but declined to say where. Little
did not immediately respond to a Reuters email requesting
comment on Pearson's condition.
Pearson, 56, joined Valeant as CEO in September 2010 after a
23-year career at McKinsey & Company and became chairman of the
board in 2010.
Pearson's illness comes as investors are turning up pressure
on the Canadian drugmaker to provide a more detailed plan on how
it will grow profits in 2016. Under Pearson's leadership, the
company has come under U.S. government scrutiny for acquiring
off-patent drugs and drastically hiking the prices.
Valeant's U.S.-listed shares, down about 20 percent this
year, closed at $114.11 on Thursday.

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