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Valeant's Papa Lays Out Plan For Turnaround

 
• By Lisa LaMotta

The beleaguered spec pharma's new CEO set the tenor for the company going forward as he laid out plans for a turnaround during a first quarter call.

New Valeant CEO Joe Papa expressed optimism as he hosted his first quarterly earnings call at the helm of the troubled company. Yet, he was quick to admit what the public already knows – there are "issues" and "distractions."

"We've got a durable, sustainable business model in both consumer, ophthalmic and branded generics and we have strong cash flow. But we have experienced some significant challenges in our dermatology business as we transition to our access program with Walgreens

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