After watching the stock’s share price fall by more than 17 percent in five days, Valeant Pharmaceuticals International Inc VRX 5.06% CEO J. Michael Pearson decided to take matters into his own hands on Monday by sending a letter to his employees assuring them that the company’s business model and fundamentals are sound. Democratic presidential frontrunner Hillary Clinton’s plan to rein in prescription drug prices has slammed the biotech sector hard in recent days, but Pearson assured his employees (and shareholders) that the company is in a strong position to continue to grow regardless of potential new drug price regulation.
According to Pearson, fears that new legislation could threaten Valeant’s ability to raise prices on its drugs and eliminate the company’s growth are…
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