9.2 C
New York
Thursday, March 28, 2024

Valeant Pharmaceuticals Intl Inc (VRX) Tanks As Ackman And Munger Feud

By Jacob Wolinsky. Originally published at ValueWalk.

Bill Ackman might be over his fight with Carl Icahn (perhaps), but it looks like the CEO of Pershing Square might be in the midst of another with someone (or a duo to be percise) who are even more famous. Both Warren Buffett and Charlie Munger had such not nice words for the now (in?)famous pharma company Valeant Pharmaceuticals Intl Inc (VRX). This morning Charlie Munger said that Valeant was robbing from hospitals (or something pretty blunt like that) and that the company was a sewer and shares crashed close to 10 percent on the famous investors’ comments. Now Bill Ackman is on a call in to CNBC to fight back.

Below are some highlights in yet again the latest Valeant saga. Shares at the time of this writing are down about seven percent as Ackman fights back.

Ackman: Phone is ringing off the hook for potential Valeant asset buyers, no need to sell assets

Ackman responds to Buffett: You don’t indict Valeant on the actions of a few people


Monday, 2 May 2016 | 12:26 PM ET


Hedge fund manager Bill Ackman defended his key holding Valeant Pharmaceuticals on Monday, as its shares continued to tumble.

Ackman: the market is already discounting companies where price increases are the major drivers of growth $VRX

— Meg Tirrell (@megtirrell) May 2, 2016

Ackman: ‘no need to sell ANY asset of the company to meet obligations of creditors’ $VRX

— The Daytrade™ (@d4ytrad3) May 2, 2016

Bill Ackman responds to Charlie Munger calling $VRX a ‘sewer’: “The company is not a sewer” https://t.co/0Mwulhnihw

— CNBC Now (@CNBCnow) May 2, 2016

Stay tuned for more as with Valeant as readers know there is ALWAYS more news and in this case will have the Ackman audio up shortly!

Valeant pharmaceuticals
Valeant pharmaceuticals

Valeant Pharmaceuticals

The post Valeant Pharmaceuticals Intl Inc (VRX) Tanks As Ackman And Munger Feud appeared first on ValueWalk.

Sign up for ValueWalk’s free newsletter here.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

157,451FansLike
396,312FollowersFollow
2,280SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x