October 31, 2016 / 7:42 PM / in a year

Valeant ex-CEO, ex-CFO focus of U.S. criminal probe - Bloomberg

Oct 31 (Reuters) - U.S. prosecutors are focusing on Valeant Pharmaceuticals International Inc’s former chief executive and chief financial officer as they build a fraud case against the drugmaker, Bloomberg reported.

The case against Valeant could yield charges within weeks, the report said, citing people familiar with the matter. (bloom.bg/2fnXLYp)

Valeant’s U.S.-listed shares tumbled 5.5 percent to $19.23. The company could not be immediately reached for comment.

Earlier this year Laval, Quebec-based Valeant replaced its long-time CEO Michael Pearson with Perrigo Co Plc’s CEO, Joseph Papa. (Reporting by Ankur Banerjee in Bengaluru; Editing by Savio D‘Souza)

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