Deals
Valeant Is Done Selling Off Units to Pay Down Debt, CEO Says
- Shares gain on Xifaxan strength, up more than 80% since April
- Drugmaker’s earnings and revenue decline from a year ago
Bloomberg’s Cynthia Koons discusses pharma firm Valeant’s revenue guidance, its asset sales program and Bill Ackman’s investment in the company. She speaks on “Bloomberg Markets.” (Source: Bloomberg)
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The CEO of Valeant Pharmaceuticals International Inc. said the drugmaker has slimmed down enough for now and will focus on generating cash from its remaining businesses as it pays down a mountain of debt.
“We’ve accomplished what we felt needed to be accomplished, certainly in the near term,” Chief Executive Officer Joe Papa said in an interview. “Our focus is going to be on the execution of the business.”