VALEANT

Valeant Pharmaceuticals International is a classic case of how Wall Street clings to the power of an idea, and just how hard it can be to let go. Consultants and hedge funds used the drug company as a vessel to redesign a huge segment of the American economy, ostensibly to make it more efficient, while extracting profit in the process. As Valeant embarks on the next phase, with its first results under a new chief executive, the question is whether Valeant can financially engineer its way out the same way it got itself into trouble... At its peak, Valeant grew to become a $90 billion company on the back of a debt-fueled acquisition binge, gigantic price hikes on the drugs it bought and cost cuts that largely slashed research and development of new therapies. Early investors enjoyed a 30-fold return. Valeant inspired a slew of copycats, many beyond the pharmaceuticals industry... Compensation consultants clamored to see how the executive team, led from 2008 until earlier this year by..

Also known as: Valeant Pharmaceuticals, ValueAct