valeant names interim chief while ceo on medical leave
Last Updated : GMT 02:09:47
Arab Today, arab today
Arab Today, arab today

Valeant names interim chief while CEO on medical leave

Arab Today, arab today

Arab Today, arab today Valeant names interim chief while CEO on medical leave

Valeant announced its former CFO Howard Schiller will serve as interim chief executive while its CEO is on medical leave due to severe pneumonia
Ottawa - Arab Today

Embattled Canadian pharmaceutical company Valeant announced Wednesday its former CFO Howard Schiller will serve as interim chief executive while its CEO is on medical leave due to severe pneumonia.

Schiller takes the reins from Michael Pearson, who "remains in the hospital where he is being treated," the company said in a statement, adding that Pearson's date of return was uncertain.

Valeant's board of directors will be chaired by Robert Ingram, its lead independent director, until Pearson's return, it said.

Schiller, who served as Valeant chief financial officer from December 2011 until June 2015, "has been appointed interim chief executive officer of Valeant, effective immediately," the company said.

Before joining Valeant, Schiller worked at Goldman Sachs for 24 years.

Pearson's illness came after the company endured months of criticism and hits to its share price over its drug pricing and distribution policies.

While rejecting accusations that it engaged in deceptive practices, Valeant in October cut ties with mail-order pharmacy Philidor RX.

Their partnership had seen Philidor aggressively market Valeant's more expensive drugs over cheaper generics preferred by insurers, which caught the attention of US lawmakers and investigators now looking into its pricing.

In December, Valeant announced a drug distribution deal with pharmacy giant Walgreens that will lower prices of many medications by 10 percent in the United States.

Pearson, 56, is the architect of the rapid rise of Valeant, which grew from a small pharmaceutical company to a global giant in the span of ten years mainly due to a growth strategy based on acquisitions.

Markets seemed satisfied with the temporary replacement. Valeant rose 1.90 percent to $143.84 on the Toronto Stock Exchange by 10:30 am (1530 GMT).

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

valeant names interim chief while ceo on medical leave valeant names interim chief while ceo on medical leave

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

valeant names interim chief while ceo on medical leave valeant names interim chief while ceo on medical leave

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday