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Valeant Tumbles Below $10 on Struggle to Sell Assets, Raise Cash

  • Shares down to 2009 low after news report on iNova unit
  • $10 a share ‘critical psychological price point’: analyst
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Why It’s So Hard for Activist Investors to Find Value

Valeant Pharmaceuticals International Inc. is a single-digit stock once again.

Valeant dropped as much as 6.4 percent to $9.52 on Wednesday, its lowest intraday level since 2009, after the Australian Business Review reported that the company was struggling to sell a pharmaceutical distribution unit for as much as it sought.