Valeant Pharma (VRX) Gains, Reverses as Tepper Already Exited New Stake

(Updated - May 13, 2016 4:50 PM EDT)

Valeant Pharma (NYSE: VRX) gained after-hours Friday after David Tepper's Appaloosa LP disclosed that it owned 945,000 share as of March 31, 2016.

The gains, however, were short-lived as CNBC reported that a source indicated that the firm has already sold out of the position. The 13F released today covered the period ended March 31, 2016.

Shares of VRX last traded up 0.7% after trading up over 2% on the initial disclosure.

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