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Tara Lachapelle

Valeant Needs to Wade, not Dip, Into R&D

Valeant Pharmaceuticals International in Bridgewater, NJ.

Valeant Pharmaceuticals International in Bridgewater, NJ.

Photographer: Kristoffer Tripplaar/ Sipa USA

Valeant isn't like most drugmakers. While rivals rely on scientists peering into microscopes to develop new drugs, Valeant leans more on bankers to go out and find other companies making drugs it wants. So research and development has never gotten much attention on a Valeant earnings call -- until this week.

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