BUZZ-Valeant Pharmaceuticals: Selects trio to fill in for CEO

Tue Dec 29, 2015 10:40am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** Canadian drugmaker's shares down 11.05 pct at C$140.25, continues to fall for second day

** Company's U.S.-listed shares down 1.2 pct at $101

** Company on Monday said group of executives will immediately take over for its CEO until he returns from medical leave, news that sent its shares tumbling 10 percent

** Valeant CEO Michael Pearson, 56, is being treated for severe pneumonia

** The decision to put leadership in the hands of three executives was unusual, experts say, and suggests a lack of confidence in any one company executive to temporarily fill CEO's shoes

** Up to Thursday's close, company's Canada-listed stock had fallen about 5 pct this year, while its U.S.-listed stock had fallen about 20 pct