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Valeant's New Strategic Direction: Clean Break Or Simply A Paint Job?

 
• By Donna Young

Trying to get out from under the shadow of ongoing investigations into its pricing and questionable business practices, which have led to its shares diving 90% in the past year, Valeant Pharmaceuticals International Inc. laid out its strategy for becoming a "new" company. But one analyst questioned whether the changes being made were simply "new paint on the same old shed."

Valeant Headquarters

Insisting it was now a "new" company – or at least on its way to becoming one – Valeant Pharmaceuticals International Inc. on Aug. 9 unveiled plans to reorganize its business, reaffirmed its 2016 full year guidance and vowed to aggressively bring down its $30bn in debt by renegotiating its terms and selling off noncore assets.

"We are setting the company on a new path with new strategic imperative, changes to the management team and structure...

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