BUZZ-Valeant Pharmaceuticals International Inc: Shares continue to fall

Tue Oct 20, 2015 1:51pm EDT
 
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** Canadian drugmaker's shares continue to fall for the second day; U.S.-listed stock down 9.7 pct at $192.33

** Toronto-traded shares down 9.7 pct at C$192.15

** Company predicted on Monday that lower price increases are ahead for the whole industry

** "I do think, given that environment, the pricing that pharmaceutical companies will take in the future will be more modest," CEO Michael Pearson said

** Valeant and others have been criticized for acquiring companies and raising prices of drugs to boost profits

** Susquehanna cuts Valeant PT to $220 from $300, BMO cuts to $265 from $273

** CIBC cuts rating to "sector performer" from "outperformer", PT to $200

** Median PT is $250; 17 analysts rate stock "buy" and above, 5 "hold", 1 "sell"