Valeant Pharmaceuticals Inc. is cheap and, thanks to Warren Buffett and his deputy Charles Munger, getting cheaper. Buffett, the billionaire chairman of Berkshire Hathaway Inc., called the drugmaker’s business model “enormously flawed” at his company’s annual meeting on April 30. Munger followed suit, characterizing it as a “sewer.” On Monday, Valeant fell as much as 13 percent, the most since March 15, despite hedge-fund manager and board member Bill Ackman touting its recent turnaround efforts.
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