New Valeant CEO Papa Trades Challenge at Perrigo for Fresh One
- Papa tested in bruising fight against Mylan's hostile takeover
- Valeant remains embroiled in investigations, sales questions
Why Joseph Papa Left Perrigo for Valeant
This article is for subscribers only.
Joe Papa has seen the ups and down of the drug industry firsthand. But he’s never run anything quite like Valeant Pharmaceuticals International Inc.
Papa, who takes over as Valeant’s chief executive officer next month after an almost decade-long tenure atop Perrigo Co., is familiar with how fast investors can turn on a high-flying company. Over his tenure, Perrigo’s shares rose more than 10-fold, only to lose more than half their value in a year as the company undertook a bruising takeover defense against Mylan NV.