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Valeant CEO Pearson Hospitalized for Case of ‘Severe’ Pneumonia

  • Company isn't giving details about nature of his illness
  • Investors have sent stock down 57% from high amid scandals

Valeant Pharmaceuticals International Inc., the drugmaker battered by scandals and questions about sales, said its chief executive officer spent Christmas in a hospital being treated for “severe” pneumonia.

J. Michael Pearson, 56, was admitted recently and is receiving treatment, company spokeswoman Laurie Little said Friday by e-mail. She declined to elaborate.