Ackman Says Valeant Is a Problem He Knows How to Handle
- Hedge fund manager says no widespread investor redemptions
- 83% of investors able to redeem stayed in fund, Ackman says
Valeant Analyst: More Bad News to Come
This article is for subscribers only.
Activist investor Bill Ackman said drugmaker Valeant Pharmaceuticals International Inc. is a problem, but one that he knows how to handle.
CNBC reported the comments Thursday, citing an earlier interview. Valeant’s stock fell 51 percent Tuesday after the drugmaker cut its 2016 guidance and warned it may breach some of its debt agreements if it can’t file its annual report on time. Ackman’s Pershing Square Capital Management lost about $764 million on the common shares it owns in the March 15 stock collapse.