The day after what was described as “the most brutal” Senate grilling of a corporate executives in memory, a beat-down involving Valeant Pharmaceuticals, the company restated earnings and materially re-shuffled the board of directors. While the restatement was material, it was the new board members focused on fraud and medical issues that points to the future. For investors, the question going forward is likely to have less to do with medical innovation, which have notoriously long execution cycles with low win percentages, than it will leverage. The issue investors might be watching, in part, is likely to center on debt burden,…
New Valeant Pharmaceuticals Intl Inc Board Sends Message As Firm Reinstates Earnings
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.