June 19, 2017 / 12:08 PM / 5 months ago

BUZZ-Valeant Pharmaceuticals International Inc: Paulson joins board

** Canadian drugmaker’s U.S.-listed shares up nearly 5 pct at $13.29 premarket

** Valeant said on Monday that it appointed hedge fund manager and billionaire investor John Paulson to its board

** Paulson & Co is Valeant’s largest shareholder with a 5.68 pct stake as of March 31, according to Reuters data

** Billionaire investor William Ackman sold his entire stake in Valeant in March at a loss of more than $3 billion

** Former Valeant CEO Pearson’s acquisition spree sent Valeant’s shares from around $20 to a high of over $250 in 2015, before the stock went into a tailspin as Valeant’s drug pricing strategy and ties to a specialty pharmacy came under increased political and regulatory scrutiny

** Up to Friday’s close, Valeant’s U.S.-stock had fallen 12.8 pct this year

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