Now that Michael Pearson, the outgoing Valeant Pharmaceuticals chief executive, has issued a mea culpa about his decision to raise drug prices sky high, where does the drug maker go from here?
The prognosis is not healthy — at least as far as some Wall Street wags are concerned.
Two days ago, Valeant hired Joseph Papa, an industry veteran who spent the past decade running Perrigo, which mostly sells over-the-counter and generic medicines, to replace Pearson. But his recent track record is prompting some skepticism amid other concerns about whether he can overcome the many problems that Valeant is facing.
This article is exclusive to STAT+ subscribers
Unlock this article — plus in-depth analysis, newsletters, premium events, and networking platform access.
Already have an account? Log in
Already have an account? Log in
About the Author Reprints
To submit a correction request, please visit our Contact Us page.
STAT encourages you to share your voice. We welcome your commentary, criticism, and expertise on our subscriber-only platform, STAT+ Connect