BRIEF-Valeant says former CEO Pearson remains "significant" shareholder

Thu Jul 14, 2016 8:59am EDT
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July 14 (Reuters) - Valeant Pharmaceuticals International Inc :

* Valeant Pharmaceuticals comments on recent stock transactions

* Commented on recent stock transactions made by Valeant's former chief executive officer, J. Michael Pearson

* "Pearson remains a significant Valeant shareholder with more than 3.5 million shares"

* Pearson is required to hold 1 million shares for two years following employment termination

* Understand that Pearson exercised and sold options representing approximately 4.4 million shares, which would expire within next 12 months

* Understands that Pearson sold approximately 411,000 shares of common stock in June and July to satisfy tax obligations

* "Mike's personal stock transactions are not a reflection of ongoing viability of Valeant"

* Next week, research and development team's work to result in 3 "significant regulatory events related to Brodalumab, Latanoprostene Bunod and Relistor oral"

* Former CEO Pearson- "Plan on holding my remaining shares until company recovers and returns to being traded on fundamentals" Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)