Valeant CEO Pearson's Defiant New Tone Reassures Shareholders
- Shares rise for second day on investor meeting, Walgreens pact
- `We're gonna get through this thing,' Pearson tells holders
Mike Pearson, chairman and chief executive officer of Valeant Pharmaceuticals International Inc.
Photographer: Scott Eells/BloombergValeant Pharmaceuticals International Inc.’s chief executive officer urged investors to look past the scandals and questions that have sent the drugmaker’s stock down more than 50 percent from its peak this year and said they should focus on products that will grow beyond current expectations.
At a meeting with shareholders, Mike Pearson pledged to provide more transparent data about Valeant’s business, including sales figures for its top 30 drugs. But his tone was more defiant than apologetic when discussing the company’s strategy, which has drawn scrutiny from lawmakers and investors for its use of mail-order pharmacies, price increases and acquisitions for growth.