Valeant seeks to become top 5 pharmaceutical company: CEO

Tue Jan 7, 2014 8:56am EST
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(Reuters) - Valeant Pharmaceuticals International Inc (VRX.TO: Quote)(VRX.N: Quote) aims to crack the top-five ranks of drug companies by market capitalization by the end of 2016, Chief Executive Michael Pearson said on Tuesday.

Montreal, Quebec-based Valeant, which has a market cap of about $38.4 billion and sits among the top 15 pharmaceutical companies by that measure, would need to reach about $150 billion in market cap to crack the top five, Pearson said on a call with analysts and investors.

(Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Jeffrey Benkoe)