November 9, 2015 / 7:54 PM / 3 years ago

Ackman says Valeant stock 'extraordinary bargain'

(Reuters) - Activist investor Bill Ackman said Valeant Pharmaceuticals International Inc’s VRX.N VRX.TO stock was an “extraordinary bargain” given its low price.

The ticker information for Valeant Pharmaceuticals International Inc. is displayed on a screen above the post where it's traded on the floor of the New York Stock Exchange November 4, 2015. REUTERS/Brendan McDermid

More doctors could use specialty pharmacies, potentially benefiting Valeant, and the selloff in the stock was unwarranted, Ackman said on Pershing Square’s quarterly call on Monday.

He also said he had constructive meeting with the management of Mondelez International Inc (MDLZ.O), in which he took a stake in August.

Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Sriraj Kalluvila

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