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Actionable news in VRX: VALEANT PHARMACEUTICALS INTERNATIONAL,

Ackman, Valeant Board Both Say They Support CEO Pearson

Valeant Pharmaceuticals International Inc.’s Chief Executive Officer Mike Pearson was given a new vote of confidence from the company’s board and its third-biggest investor Bill Ackman on Thursday.

Ackman, the billionaire hedge fund investor who runs Pershing Square Capital Management, said that while he disagreed with some of Pearson’s decisions, he felt he was the right CEO for the drugmaker.

“We share the board’s confidence in you and your leadership,” Ackman said in the letter. “While I have strong views on Valeant’s...


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