RE:Valeant - News Release (BS Rumours)Well, surprised at the drop of the obvious. I really thought this was all built into the price. Same as a possible drop in earnings guidance.
I would also think that the other obvious is, is that the company has been cooperating with authorities. It could be that the company wanted to get all the ugly stuff out now in this quarter. Could it be they leaked info? That will allow them a clean slate to build with Papa at the helm now that Papa is starting to figure out what needs to be done. Conjecture for sure.
Papa stated somewhere he was planning on reducing debt by 5-8 billion by selling off assets and some of these should be high lited by end of year.
VRX has a lot of revenue and profit moving in which over time will resolve many issues.
You can bet Pershing is being aggressive at resolving issues.
Will we get a bit of a V return? We're at the short end of evaluation now.
All IMO.