Bill Ackman made nearly nearly $170 million in one day in a Valeant two-day rally. His comment on Valeant Pharmaceutical showed his capability as a remarkable hedge fund manager.
In the continuing saga on Valeant, CFO Howard Schiller has been asked to resign. The company will also find the replacement of CEO Michael Pearson, and putting Bill Ackman in its board.
Following Valeant Pharmaceuticals' meltdown, S&P rating service puts Pershing Square Holdings Ltd on review. However, S&P acknowledged swift decision by the firm to strengthen its liquidity after a massive loss.
A huge slump in Valeant Pharmaceutical stocks on Tuesday made Pershing Capital to lose more than $1 billion in one day. Meanwhile Bill Ackman planned to take more active role in the drugmaker.
The Canadian drugmaker on Wednesday announced to add three new directors to its board. Representative from Pershing Square Capital Management was added as one of the directors.
Canadian pharmaceutical company shares dropped 18% on Monday, as the company admitted being under investigation by U.S. Securities and Exchange Commission.
The overnight price hiked of Daraprim drug by the start-up, Turing Pharmaceutical is creating a big impact to the pharmaceutical sectors worldwide. The company which is own by a former hedge fund manager had acquired the right of the drug in August and immediately increases its price. The move is causing a backlash to pharmaceutical industry creating most of the shares down in a massive sell-off.
The global stock markets turmoil in August and China's economy slowdown have impacted hedge fund mogul William Ackman, who was one of the best performers in 2014. Ackman's Pershing Square Capital Management's Pershing Square LP fund dropped 7.7 percent in August making the total gain during the year at 0.06 percent flat growth.
Valeant Pharmaceuticals, Inc. of Canada has partnered with AstraZeneca for the selling rights of psoriasis drug brodalumab. Amgen Inc. ended its partnership with AstraZeneca due to its worries over the drug's side effects.
Billionaire investor William Ackman has purchased a five percent stake in Valeant Pharmaceuticals (VRX.TO) (VRX.N), his hedge fund said on Monday, making him the Canadian drug company's fifth-largest stakeholder.
Canada's Valeant Pharmaceuticals International Inc.
Valeant Pharmaceuticals International Inc (VRX.TO) will scoop up bankrupt cancer vaccine maker Dendreon Corp DNDNQ.PK, after no additional qualified bids came forward by Tuesday's deadline, Valeant said.
Canada's Valeant Pharmaceuticals International Inc said it may buy back up to $2 billion worth of securities, replacing a previous $1.5 billion program under which it bought back no securities.
Botox maker Allergan Inc on Monday accepted a $66 billion takeover bid from Actavis Plc, ending a seven-month hostile pursuit by activist investor William Ackman and Valeant Pharmaceuticals International Inc.
Allergan Inc is close to a buyout deal worth up to $65.5 billion by Actavis Plc, one that could end months of pursuit by Canada’s Valeant Pharmaceuticals and William Ackman's hedge fund, Pershing Square Capital Management, according to a person familiar with the matter.