Drug Short

Valeant Pharmaceuticals was a multinational specialty pharmaceutical company based in Canada. It grew rapidly through a series of mergers and acquisitions under the leadership of J. Michael Pearson. The company was involved in a number of controversies surrounding drug price hikes and the use of a specialty pharmacy for the distribution of its drugs, which led to an investigation by the U.S. Securities and Exchange Commission and caused its stock price to plummet more than 90 percent from its peak while its debt surpassed $30 billion.
Wall Street short-sellers exposed a scam that regulators overlook: how Big Pharma gouges patients in need of life-saving drugs.