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Valeant's downfall — illustrated by its stock chart

March 14,2017 14:34

When Philidor's existence — which had been kept from investors — was exposed its entire business model came under scrutiny from Wall Street, and its practices under investigation. Its stock is down 95% since September 18, 2015, with a decline that ...



Bill Ackman has officially quit
Valeant Pharmaceuticals.

The founder of the hedge fund Pershing Square on Monday sold his
investment in the company and announced his plan to step down
from the board. Valeant's shares were down 11% Tuesday morning.

Once a stock market darling, Valeant has been falling since
September 2015 after the company began to face scrutiny over its
pricing strategy and its use of a secret specialty pharmacy
called Philidor. When Philidor's existence — which had been kept
from investors — was exposed its entire business model came under
scrutiny from Wall Street, and its practices under
investigation. 

Its stock is down 95% since September 18, 2015, with a decline
that began when then-Democratic presidential candidate Hillary
Clinton tweeted about drug prices.

Here's a timeline of what's happened to Valeant's shares since
September 2015:

Business
Insider/Andy Kiersz, data from Bloomberg

SEE ALSO: Bill Ackman is selling his entire stake in Valeant Pharmaceuticals

DON'T MISS: The full play-by-play of Valeant Pharmaceuticals

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