Finally, Valeant had some decent news and the stock is going off like a rocket
Advertisement
Thomson Reuters
Advertisement
The ad-hoc committee says that it found no more issues with the company's accounting beyond the $58 million misstatement that has forced it to delay its annual report.
The stock is up 17% in Tuesday's pre-market trading session.
Valeant's stock has been dogged since October, when accusations from a short seller and government scrutiny cast light on a previously undisclosed part of its business, a shady specialty pharmacy that it used to distribute drugs called Philidor.
Philidor was shut down in January, but the accounting issues it raised remained.
Advertisement
Advertisement
- Adani family infuses ₹6,661 crore in Ambuja Cements, increases stake to 66.7%
- Retail, real estate and religion: Spiritual hotspots brace for a tourism boom
- Move over K-beauty, Japanese brands are here to take over India’s clean B-trend
- MGNREGA wages get a 3-10% hike, average pay to go up by ₹28/day
- Most runs to most sixes – SRH vs MI IPL match shatters multiple records