Largest shareholder urges Valeant to pay down debt

Thu Oct 29, 2015 12:35pm EDT
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Oct 29 (Reuters) - Valeant Pharmaceuticals International Inc's largest shareholder, Ruane, Cunniff & Goldfarb Inc, has urged the company to consider paying down debt.

The investment firm, in a letter to shareholders on Wednesday, also came to Valeant's defense, saying allegations against it are false. (

Valeant's stock has taken a beating since short-seller Citron Research said last week that the company was using its drug distributor, Philidor, to inflate revenue numbers. (Reporting by Vidya L Nathan in Bengaluru; Editing by Kirti Pandey)