Statements Of J. Michael Pearson, Chairman And CEO, And Robert Ingram, Lead Outside Director Of Valeant Pharmaceuticals

Valeant Pharma (VRX) Halts the Bloodletting Following Conference Call

October 26, 2015 1:03 PM EDT

Down 52% from the Sept 21 Hillary Clinton tweet, 42% from the initial Sept 28 Citron Research short report, and 22% from Citron's Oct 21 'smoking gun' report, the last month or so has been a low point in Valeant Pharmaceuticals' (NYSE: VRX) corporate history. Today bears and bulls are battling hard as the company attempted to address concerns raised by short sellers in a conference call earlier. The focus of the call was on the company's ownership and relationship with specialty pharmacies, with Philidor front and center. The company also appointed an Ad Hoc committee to review... More

Valeant (VRX) Answered Its Questions Well, But Other Questions Remain - Deutsche Bank

October 26, 2015 11:15 AM EDT

Deutsche Bank maintained a Hold rating on Valeant Pharmaceuticals (NYSE: VRX) with a price target of $204. Commented following the company's conference call earlier today discussing its relationship with specialty pharmacy partner Philidor. Analyst Gregg Gilbert said he was disappointed that the call was ended by management before Deutsche Bank and others were able to ask questions.

"While we believe management did a pretty good job discussing the items it decided to discuss (based at... More

Valeant (VRX) CC Seen as Step Forward at BMO Capital But More Needed to Rebuild Investor Confidence

October 26, 2015 10:35 AM EDT

BMO Capital analyst Alex Arfaei offered some initial thoughts from Valeant Pharmaceuticals' (NYSE: VRX) conference call to address recent allegations against the company.

The analyst highlighted:

Whats new? Valeant disclosed that specialty pharmacies account for 7.2% of Valeant net revenue YTD, while Philidor accounts for 5.9% of Valeant net revenue YTD. The rationale for lack of disclosure: Philidor is not considered material to Valeants business for reporting purposes. More clarity on the Philidor relationship: Valeant explicitly stated that it does not own or control Philidor, nor does it believe that it has legal... More

UPDATE: Valeant Pharma (VRX) Sees Dramatic Red-to-Green Reversal Then Collapses Again

October 26, 2015 9:40 AM EDT

(Updated - October 26, 2015 9:43 AM EDT)

After trading down over 10% in pre-open action amid new issues discussed in the WSJ, Valeant Pharma (NYSE: VRX) has moved into positive territory following the company's conference call to address short seller accusations.

UPDATE:... More

Mizuho Provides Quick Thoughts on Valeant (VRX) Slides/Call

October 26, 2015 9:14 AM EDT

Mizuho Securities analyst Irina Koffler provided the following quick thought on Valeant Pharmaceuticals (NYSE: VRX) slides and call:

· The Valeant slide deck delves into details of its specialty pharmacy operations: The company went to great length to review operations of Philidor and mechanics of the business and these details are applicable to other companies with specialty pharmacy distribution, in our view. We believe that the clarity should benefit the sector overall, and most specifically, companies like Horizon (HZNP) which utilize less complex... More

Valeant Pharma (VRX) CEO Pearson, Outside Director Ingram Issue Commentary on Philidor

October 26, 2015 9:11 AM EDT

J. Michael Pearson, Chairman and Chief Executive Officer of Valeant Pharmaceuticals International, Inc. (NYSE: VRX), made the following statements on today's investor call.

Statement of J. Michael Pearson:

"We wanted to hold this call today because the company I've heard described in the press the past few days is not one that I recognize. It's not one that our board of directors recognizes. And it's certainly not one that reflects the reality of our business and day-to-day operations. Some of that is our fault we have been slow to answer... More