US Uncut - J. Michael Pearson, the current CEO of Valeant Pharmaceuticals
... recently said that his company’s responsibility is to it’s
shareholders, while making no mention of his customers who rely on his
drugs to live.
“If products are sort of mispriced and there’s an
opportunity, we will act appropriately in terms of doing what I assume
our shareholders would like us to do.”
Already this year, Valeant has increased the price of 56 of the drugs
in its portfolio an average of 66 percent...In
an interview with CNBC, Pearson defended his business practice of acquiring drugs instead of investing in research and development.
“My primary responsibility is to Valeant shareholders. We
can do anything we want to do. We will continue to make acquisitions,
we will continue to move forward.”
Since being named CEO in 2008, Valeant has acquired
more than 100 drugs and seen their stock price rise more than 1,000 percent with Pearson at the helm.
No comments:
Post a Comment