July 13, 2016 / 5:12 PM / in a year

BUZZ-Valeant Pharmaceuticals: Andrew Left taking new short stake in Valeant - The Street

(Updates)

** Canadian drugmaker’s U.S.-listed shares reverse course, now down 3.4 pct at $22.72

** Andrew Left taking new short stake in Valeant, The Street reported, calling the drugmaker an “obvious zero”

** Valeant had short interest of 8.9 pct as of June 30 and short squeeze indicator model at 98/100 (100 = most likely to have a short squeeze) - Thomson Reuters data

** Former Valeant CEO Michael Pearson sold nearly 5 mln shares and options for a total of $96.8 mln, CNBC reports, citing documents not made public yet (cnb.cx/29XNVcZ)

** Pearson left Valeant on May 2 after a year in which the company had drawn scrutiny for its sharp drug price increases, financial relationship with a specialty pharmacy and accounting practices

** Pearson got a $9 mln severance payment and agreed to a consulting agreement worth hundreds of thousands of dollars, according to a document filed with regulators

** Up to Tuesday’s close, stock had fallen 77 pct this year

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below