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Ackman Expresses Confidence In Valeant CEO

Bill Ackman has boosted his investment in Valeant as the company has come under pressure.

Hedge fund manager William Ackman expressed confidence in the chief executive of Valeant Pharmaceuticals International Inc. VRX -14.36 % amid concerns about the company’s leadership, but also said the CEO would need to do whatever is necessary to stem a steep slide in the stock.

Mr. Ackman wrote CEO Michael Pearson on Thursday in an email with the subject line “You,” saying, “We share the board’s confidence in you and...


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