Valeant Pharma (VRX) Said in Talks to Add New Director; May Come from Ackman's Pershing Square

(Updated - March 8, 2016 4:43 PM EST)

Valeant Pharma (NYSE: VRX) said in talks to add new board members, according to Dow Jones Newswires. Specifically, the company could move to add a director from Bill Ackman's Pershing Square, sources said.

UPDATE - The WSJ said Tuesday that the three candidates Valeant is considering are:

• Fred Eshelman, former CEO of Pharmaceutical Product Development, which was sold to private-equity firms Carlyle Group LP and Hellman & Friedman LLC in 2011, and also of Furiex Pharma, which was sold to Forest Laboratories in 2014;
• Stephen Fraidin, vice chair at Ackman's Pershing Square, a major Valeant shareholder. He was also a former M&A lawyer who recently retired from Kirkland & Ellis LLP to join Ackman's firm; and
• Thomas Ross, former president of the University of North Carolina system. He was head of UNC for five years and could be selected for his crisis-management experience.

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