BRIEF-Pershing Square releases Q1 letter to shareholders

Wed May 11, 2016 6:28pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

May 11 (Reuters) - Pershing Square Holdings Ltd In Letter To Shareholders

* PSH NAV Per Share As Of Close Of Business On 10 May 2016 Was USD16.88

* There Is Much Work To Do At Valeant, Including Restoring The Dermatology Business To Growth

* "Believe That Valeant Has Some Of The Best And Most Durable Assets In The Pharmaceutical Industry"

* "It Will Take Time For Valeant To Regain Its Stakeholders' Trust"

* Valeant Does Not Require Aggressive Pricing In Order To Generate Growth And Substantial Free Cash Flow

* Continue To Have "Tremendous Confidence" In Canadian Pacific's Management, But Have Sold Shares For Portfolio Management Reasons

* Expect FTC To Demand Similar Safeguards, Restrictions For Herbalife As It Has Required In The Vemma Case

* While $200 Million Settlement Would Be One Of Highest Ever In FTC Consumer Protection Action, It Would Be Immaterial To Herbalife   Continued...