Pershing Square Won't Comment on Valeant Pharma (VRX) CEO Medical Leave News

Pershing Square offered no comment to StreetInsider on news Valeant Pharma (NYSE: VRX) J. Michael Pearson will be on a medical leave of absence after being hospitalized with a severe case of pneumonia.

"PSCM is not commenting," a spokesperson said.

The company's board of directors has created an Office of the Chief Executive Officer, which will include Robert Chai-Onn, Executive Vice President and General Counsel, Dr. Ari Kellen, Executive Vice President and Company Group Chairman, and Robert Rosiello, Executive Vice President and Chief Financial Officer, to serve in an interim capacity.

"Our thoughts are with Mike and his family," said Lead Independent Director Robert Ingram. "Out of respect, we will be honoring his family's request for privacy and will not be commenting further on his condition at this time."

Shares of Valeant are down 10% today on the news.

Pershing Square Capital owns 34,118,551 shares of Valeant, or nearly 10% of the shares outstanding.

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