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Home » Uncategorized » The government just called Valeant’s CEO in for another whipping, and the stock crumbling

The government just called Valeant’s CEO in for another whipping, and the stock crumbling

(18 Views) March 28, 2016 4:25 pm | Published by | No comment

Senator Claire McCaskill (D-MO) of the Senate Commerce, Science and Transportation Subcommittee questions a witness in Washington July 17, 2014.  REUTERS/Gary Cameron

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Senator McCaskill (D-MO)

Valeant Pharmaceuticals CEO Michael Pearson has been called to testify before the Senate Committee on Aging on April 27th, that’s the latest in a long spate of bad news for the company.

The stock is down around 8% on this news.

The Senate Committee on Aging’s investigation into Valeant is a bipartisan effort helmed by Sens. Susan Collins (R-Maine) and Claire McCaskill (D-Missouri). They sent letters to Valeant and a few other drug companies announcing the investigation back in November.

This is on top of ongoing investigations into the company in the House of Representatives, SEC and state attorney’s offices of Massachusetts and New York.

More on this to come…

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