[101], On April 25, 2016, Valeant named Perrigo chief executive Joseph Papa as a permanent replacement for Pearson, and entrusted him with turning around the company. [38] In February 2012, Valeant acquired ophthalmic biotechnology company, Eyetech Inc.[39] In April 2012, Valeant acquired Pedinol.

In the year before the merger with Valeant, Melnyk had settled with the United States Securities and Exchange Commission (SEC), and agreed to pay a civil penalty of $150,000 after having previously paid $1 million to settle other claims with the SEC. [108][109], By January 2018, the company had divested itself of 13 non-core businesses, reducing its debt to $25 billion, and had settled or dismissed 70 pending lawsuits, including the Allergan insider trading case. "[77] This strategy had also attracted the attention of regulators in the United States,[76] particularly after the publication in The New York Times of an article on price gouging of specialty drugs. [103], By January 2017, the company had sold its skincare brands to L'Oréal for $1.3 billion[104] and its Dendreon biotech unit to Sanpower for $819.9 million. Availability of Cesamet(TM) (CII) and Initiates Post-Marketing Clinical Trial", "Valeant Pharmaceuticals Acquires Rights to Nabilone in United Kingdom and Europe", "Sweden's Meda AB Buys American Valeant Pharmaceuticals International Units for 392 Million", "Valeant Pharmaceuticals Completes Acquisition of Coria Laboratories, Ltd", "Valeant Pharmaceuticals Acquires DermaTech", "Dow Pharmaceutical Sciences Becomes Wholly Owned Subsidiary as Acquisition by Valeant Pharmaceuticals International is Completed", "Valeant to Acquire Tecnofarma, A Mexican Generic Company", "Valeant to Acquire Laboratoire Dr. Renaud in Canada", "Valeant to Acquire Branded Generics/OTC Company in Brazil", "Valeant to Acquire Vital Science Corp. in Canada", "Valeant Pharmaceuticals Completes Acquisition of Aton Pharma, Inc", "UPDATE 1-Valeant Q1 profit beats Street; to acquire Aton Pharma", "Drugmaker Biovail to buy Valeant in $3.3 billion deal", "Valeant Pharmaceuticals to Acquire PharmaSwiss S.A.", "Teva to buy Cephalon for $6.8 bln, tops Valeant", "Senators owner Melnyk banned for five years from boardrooms of public companies", "Valeant Pharmaceuticals Agrees to Acquire Certain Assets from Atlantis Pharma in Mexico", "Valeant Pharmaceuticals Agrees to Acquire Sanitas Group for Approximately EUR314 Million in Cash", "Valeant Pharmaceuticals Agrees to Acquire iNova", "Valeant Pharmaceuticals Completes Acquisition of Dermik", "Valeant Pharmaceuticals Acquires Probiotica in Brazil", "Valeant Pharmaceuticals to Acquire Eyetech", "Valeant Pharmaceuticals to Acquire Pedinol", "Valeant Pharmaceuticals Agrees To Acquire AcneFree And Certain Assets From University Medical", "Valeant Pharmaceuticals Agrees To Acquire OraPharma", "Valeant To Acquire Medicis for $2.6 Billion", "Valeant Pharmaceuticals International, Inc. Agrees To Acquire Medicis Pharmaceutical Corporation For $44.00 Per Share In Cash", "Valeant Completes Acquisition Of Natur Produkt In Russia", "Valeant Pharmaceuticals International, Inc. Agrees to Acquire Obagi Medical Products, Inc. for $19.75 Per Share in Cash", "Valeant's ambitious plan for its contact lens business", "Valeant Pharmaceuticals International, Inc. To Acquire Bausch + Lomb For $8.7 Billion", "Valeant Pharmaceuticals International, Inc. Completes Acquisition Of Solta Medical, Inc", "Nestle acquires rights to Valeant skincare products", "Valeant Pharmaceuticals Completes Acquisition Of PreCision Dermatology", "Valeant to buy PreCision Dermatology for $475 million", "Actavis to Buy Allergan for $66 Billion, Tops Valeant Bid", "Allergan Escapes Valeant's Pursuit, Agreeing to Be Bought by Actavis", "Valeant Pharmaceuticals International, Inc. Completes Tender Offer For Salix Pharmaceuticals, Ltd", "Endo Ends Effort to Wrest Merger-Bound Salix from Valeant", "Valeant Pharmaceuticals Agrees To Acquire Amoun Pharmaceutical", "Valeant grabs a Middle Eastern foothold with $800M pact for Egypt's Amoun", "Valeant Pharmaceuticals To Acquire Sprout Pharmaceuticals", "Valeant Buys Female Libido-Drug Maker Sprout for $1 Billion", "Valeant to Buy Maker of Women's Libido Drug for $1 Billion", "Valeant Licenses Brodalumab from AstraZeneca for Up to $445M", "AstraZeneca auctions off troubled psoriasis drug to Valeant in $445M deal", "Quebec's Valeant buys Synergetics USA for $192M", "Valeant Pharmaceuticals To Acquire Synergetics USA", "Valeant to acquire in-office noninvasive ocular allergy Dx startup Doctor's Allergy", "Valeant's $3-billion man: CEO's big bet pays off", "Valeant: Could this be the Pharmaceutical Enron?
Bausch Health's main products include drugs in the fields of dermatology, neurology, and infectious disease. [8], Under Papa's leadership, by early 2018, the company had become profitable again; had settled the Allergan case for less than expected; and had lowered its debt by $6.5 billion. Questionable Friends.
The fall represented a new low for … [68], On October 21, 2015, Citron Research founder Andrew Left, a short seller of Valeant shares, published claims that Valeant recorded false sales of products to specialty pharmacy Philidor Rx Services and its affiliates. [111], On December 16, 2019, the company settled the class action lawsuit for approximately $1.2 billion over the stock plunge. Find the latest 775650 (VRX) stock quote, history, news and other vital information to help you with your stock trading and investing. Valeant Pharmaceuticals International Inc. plans to change its name to Bausch Health Cos., as management takes another step toward remaking the company and distancing it from past controversies. "[71] On October 30, 2015, Valeant said that it would cut ties with Philidor in response to allegations of aggressive billing practices. ", "As Valeant Tumbles, So Does Bill Ackman's Hedge Fund Herd", "Valeant board ousted CEO Pearson after weekend phone calls: Source", "Valeant Pharmaceuticals (VRX) Stock: The Bears Come Out to Play", "Valeant Pharmaceuticals International eyes strategy change; senior managers face pay cut over debacle", "Valeant Pharmaceuticals' Business Model: the Repercussions for Patients and the Health Care System", "Valeant Pharma (VRX) Names Former Perrigo (PRGO) CEO to Fill Position", "Valeant Pharmaceuticals CEO: 'It's been a challenging 15 months, but we've made great progress, "Valeant To Sell CeraVe, AcneFree And AMBI Skincare Brands To L'Oreal For $1.3 Billion", "Sanpower Group Agrees to Acquire Dendreon From Valeant for $819.9 Million", "Valeant looks to trim debt pile with $930 million iNova sale", "Valeant to sell Obagi Medical Products business for $190 million", "Valeant to sell female libido pill business back to former owners", "Valeant Agrees To Sell Sprout Pharmaceuticals Subsidiary To Former Shareholders Of Sprout Pharmaceuticals", "Valeant CEO: Drugmaker Knee-Deep in 'Turnaround Effort of a Lifetime, "Bausch + Lomb Receives CE Mark From The European Commission For The Stellaris Elite Vision Enhancement System", "Bausch Health Plans $1.21 B Settlement Over Stock Plunge", "Bausch Health agrees to pay $1.21 billion to settle share price lawsuit", https://en.wikipedia.org/w/index.php?title=Bausch_Health&oldid=981568772, Creative Commons Attribution-ShareAlike License. It spends an amount equivalent to only 3% of its sales on research and development, which it views as risky and inefficient compared with buying existing drugs. Valeant Pharmaceuticals (NYSE /TSX: VRX).

[56][57] On the final day of trading, Salix shares traded for $172.81, giving a market capitalisation of $10.9 billion. The use of this website is subject to our shopping terms and privacy policy. [72] Walgreens Boots Alliance Inc, owner of Walgreens, took over distribution for Valeant. Then £51.50 per month.New customers onlyCancel anytime during your trial, Try full digital access and see why over 1 million readers subscribe to the FT, FT print edition delivered Monday - Saturday along with ePaper access, Premium FT.com access for multiple users, with integrations & admin tools, Purchase a Trial subscription for £1.00 for 4 weeks, You will be billed £51.50 per month after the trial ends, Purchase a Digital subscription for £5.90 per week, You will be billed £33.00 per month after the trial ends, Purchase a Print subscription for £7.20 per week, You will be billed £50.00 per month after the trial ends, Purchase a Team or Enterprise subscription for per week, You will be billed per month after the trial ends, Keir Starmer calls for Covid ‘circuit breaker’ as pressure on Boris Johnson mounts, Liverpool’s intensive care beds 95% full as coronavirus cases surge, EU given green light to hit US with tariffs in Airbus-Boeing ruling, Pandemic will cause ‘lasting damage’ to living standards, IMF warns, Germany urges rapid progress in UK-EU talks as it warns of no-deal damage, London faces tighter Covid curbs within days, officials warn, Boris Johnson’s virus strategy threatened by regional revolt, Johnson gambles by splitting from his scientists, Two Covid-19 drug trials halted on safety concerns, Chinese banks are chasing Anil Ambani through the UK courts, Deloitte resigns as EG Group auditor over governance concerns, Goldman Sachs boosted by surging markets in third quarter, IMF says austerity is not inevitable to ease pandemic impact on public finances, US stocks drop after Mnuchin adds to stimulus doubts, Rolls-Royce and Jaguar Land Rover pay up for bond deals, Donald Trump lacks appeal in a low-immigration world, Political elite finally tip the balance for many Lebanese, Why the British have fallen under the spell of Australian policy, The global economic recovery is dramatically uneven, Evergrande highlights risks in China’s offshore bond market, How to make the hybrid workforce model work, Why jokes at work make more sense than ever, How to put the human back in the collaboration machine, Richard Tang: Zen and the art of internet maintenance, Visions of Mohammed bin Salman — the reality and the fantasy, David Hockney shares exclusive new paintings, Nigerian singer Wizkid on finding positivity amid brutality, Paradise reopened — St Barths makes another comeback, Dinner for one? [24], In March 2010, Valeant announced its acquisition of a Brazilian generics and over-the-counter company for $28 million and manufacturing plant for a further $28 million. [82][84] In late September 2015, members of the United States House Committee on Oversight and Government Reform urged the Committee to subpoena Valeant for their documents regarding the sharp increases in the price of "two heart medications it had just bought the rights to sell: Nitropress and Isuprel. [21], In January 2009, Valeant acquired Dow Pharmaceutical Sciences for $285 million. [98][99], In their 2015 annual report filed on April 29, 2016, Valeant said that it was the "subject of investigations" by the Securities and Exchange Commission, the U.S. Attorney’s Offices in Massachusetts and New York, the state of Texas, the North Carolina Department of Justice, the Senate’s Special Committee on Aging, and the House’s Committee on Oversight and Reform, and had received document requests from the Autorite de Marches Financiers in Canada and the New Jersey State Bureau of Securities. [34] In August 2011, Valeant acquired 87.2% of the outstanding shares of Sanitas Group for €314 million. [42] In June 2012, Valeant acquired OraPharma for approximately $312 million with up to $144 million being paid in milestone payments.

[112][113], Dow Pharmaceutical Sciences Inc(Acq 2009), Obagi Medical Products Inc(Acq 2013, Sold 2017), Dendreon(Acq 2015, Sold 2017 to Sanpower Group), Rigid contact-lens monopoly investigation, Share price erosion and the ousting of Michael Pearson, Learn how and when to remove this template message, United States Securities and Exchange Commission, United States House Committee on Oversight and Government Reform, U.S. Attorney's Office for the District of Massachusetts, United States Attorney for the Southern District of New York, "Bausch Health Companies Inc. 2018 Annual Report (Form 10-K)", "US SEC: Form 10-K Valeant Pharmaceuticals International, Inc", "Valeant Agrees to Buy Bausch & Lomb in $8.7 Billion Deal", "Drugmaker Valeant completes $11 billion purchase of Salix", "Allergan sues Ackman, Valeant, alleging insider trading", "Valeant: Paulson & Co. [31] In March 2011, an attempt to buy drugmaker Cephalon Inc. for $5.7 billion was unsuccessful.

[22] In July 2009, Valeant announced its acquisition of Tecnofarma, a Mexican generic drug company.

[43] In August 2012, Valeant agreed to buy skin-care company Medicis Pharmaceutical for $2.6 billion.


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