Ackman to hold call to discuss investment in Valeant

Tue Oct 27, 2015 10:02am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

Oct 27 (Reuters) - Pershing Square Holdings said it would hold a call later this week where its CEO Bill Ackman and other executives would address questions related to the hedge fund's investment in Valeant Pharmaceuticals International .

Valeant shares have lost a quarter of their value since last Wednesday, following a report from influential short-seller Citron Research that suggested the Canadian drugmaker may have fraudulently inflated revenues by using its ties with a specialty pharmacy.

On Monday, the Valeant laid out a detailed defense of its relationship with the little-known specialty pharmacy Philidor Rx Services, but its arguments failed to calm all investor concerns.

Ackman, known for his brash bets, swept up 2.1 million additional shares last week even as Valeant shares plunged.

Pershing Square is set to hold the investor call on Oct. 30 at 9 am ET.

(Reporting by Amrutha Penumudi in Bengaluru; Editing by Sayantani Ghosh)