BUZZ-Valeant Pharmaceuticals International Inc: Snaps 4-day losing streak

Fri Oct 23, 2015 9:39am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** Canadian Drugmaker's U.S.-listed shares up 6 pct at $116.50

** Shares rise after sliding 38 pct for four straight days that wiped out about $23 bln from the company's market cap

** The stock lost more than a quarter of its value on Wednesday after Citron Research alleged the company used specialty pharmacies to inflate revenue

** Valeant moved to reassure investors on Thursday by saying it would respond to allegations on an investor call on Monday.

** The company is under federal investigation for major price hikes on some drugs