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Valeant Finalizing Contract With Perrigo’s Joseph Papa as Next CEO

Joseph Papa, chief executive officer of Perrigo Co.

Valeant had aimed to announce as soon as next week that Mr. Papa would succeed longtime chief Michael Pearson, according to people familiar with the matter.

But the appointment has hit a sticking point as the Perrigo board hasn’t said whether it would allow Mr. Papa to void a non-compete clause in his contract, the people said. The Perrigo board had a call for several hours on Thursday and didn’t reach a decision, the people...


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