BUZZ-Valeant Pharmaceuticals: Plans to poach Perrigo CEO Papa - source

Fri Apr 22, 2016 7:09am EDT
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** Embattled Canadian drugmaker's U.S.-listed shares up 7 pct at $35.75 premarket

** Valeant is seeking to appoint Perrigo Co Plc's boss Joseph Papa as its new CEO, a source familiar with the matter tells Reuters

** Quebec-based Valeant is negotiating a contract with the Perrigo CEO and it aims to announce his appointment as soon as next week - source

** Perrigo says as company policy it will not comment on market speculation

** Valeant said in March CEO Michael Pearson was leaving the company, just three weeks after returning from a two-month medical leave

** Up to Thursday's close, U.S. stock had fallen 67 pct this year