Skip to content
Subscriber Only

Valeant CEO Takes Medical Leave; Executive Team to Run Drugmaker

  • Pearson hospitalized last week with severe case of pneumonia
  • Board members Ingram, Morfit, Schiller to oversee CEO office
Video player cover image

Valeant CEO Pearson Takes Medical Leave

Updated on

Valeant Pharmaceuticals International Inc. Chief Executive Officer Michael Pearson is taking a medical leave of absence, putting management of the embattled drugmaker in the hands of a team of executives.

In a statement Monday, the company gave no update on the condition of Pearson, who was hospitalized last week with a severe case of pneumonia. The shares sank 8.7 percent to $104.14 at 10:16 a.m. in New York.