Here's the Simple Issue I Still Have With Valeant Pharmaceuticals (and Why You Shouldn't Buy)
Over the past two years, only a small handful of publicly traded companies have the distinction of losing more than 90% of their value. Drugmaker Valeant Pharmaceuticals (NYSE: VRX) finds itself in that mix, having shed about 94% of its value since peaking in early August 2015 at $264 a share.
Valeant has faced a cadre of issues along the way, including allegations of wrongdoing by one of its online drug distributors, Philidor Rx Services, and has taken heat for its drug-pricing practices. Now-former CEO J. Michael Pearson admitted to a Senate committee last year that "mistakes" were made in the pricing of cardiovascular drugs Nitropress and Isuprel, which were raised a respective 525% and 212%, post-acquisition.
Image source: Getty Images.
Source: Fool.com
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