Drugmaker Valeant raises detailed defense but doubts remain
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Valeant Pharma (VRX) Halts the Bloodletting Following Conference Call
October 26, 2015 1:03 PM EDTDown 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) CC Seen as Step Forward at BMO Capital But More Needed to Rebuild Investor Confidence
October 26, 2015 10:35 AM EDTBMO 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... MoreUPDATE: 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
Valeant Pharma (VRX) says ad hoc committee will review issues brought up in today's WSJ
October 26, 2015 8:43 AM EDTValeant Pharma (NYSE: VRX) says ad hoc committee will review issues brought up in today's WSJ.
... More