November 5, 2015 / 4:13 PM / 2 years ago

BUZZ-Valeant Pharmaceuticals International Inc: Hits over 2-year low

1 Min Read

** Beleaguered drugmaker's shares down 16 pct at $77.67 after briefly hitting over 2-year low

** A U.S. Senate panel launched on Wednesday a bipartisan probe into pharmaceutical pricing, seeking documents from 4 drugmakers including Valeant and Turing Pharmaceuticals, companies embroiled in controversy over price hikes on lifesaving drugs

** Valeant shareholder Bill Ackman said he told a company board member that longtime CEO Michael Pearson may have to go, Wall Street Journal reported (on.wsj.com/1Wxfmfd)

** Graphic: link.reuters.com/rup85w

** Up to Wednesday's close, Valeant had lost nearly two-thirds of its market value since its stock hit year-high on Aug. 6

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