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Valeant Pharmaceuticals (VRX) Stock Climbs on Potential Sale

NEW YORK (TheStreet) -- Valeant Pharmaceuticals (VRX - Get Report) stock is advancing by 4.15% to $82.02 in pre-market trading on Friday, as the pharmaceutical company explores the idea of selling itself.

After the stock collapsed to two-year lows yesterday, activist investor Bill Ackman, one of the largest shareholders of the company, sent Valeant CEO Michael Pearson an email in which he noted: "You have assured me that you and the rest of the board are considering any and all alternatives that would benefit shareholders and other stakeholders. "

"Alternatives" could refer to a sale or breakup, according to the New York Post.

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Ackman previously hinted at a sale during a call on Friday, when he noted that the Pfizer (PFE) and Allergan (AGN) merger or Merck (MRK) could be ideal buyers, the New York Post adds.

Valeant stock came under pressure yesterday following a Wall Street Journalarticle that revealed Ackman has doubted whether Pearson is fit to lead the company. The pharmaceutical company also faces a number of investigations, including a Senate probe, into its drug pricing practices.

Separately, TheStreet...