Valeant Is Weighing Offers For Assets As Stocks Plunges Again

 
• By Jessica Merrill
  
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CEO Joseph Papa confirmed the company is in discussions regarding the sale of its gastrointestinal business, but insisted the company does not need to divest assets to maintain liquidity.

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Valeant Pharmaceuticals International Inc. CEO Joseph Papa said the company has received and is reviewing a number of requests to acquire assets – even some businesses that management have deemed core operations – as he welcomed investors to Valeant’s third quarter sales and earnings call Nov. 8 with news that the company once again lowered forecasts.

Third quarter performance disappointed investors, especially as Valeant’s new Chief Financial Officer Paul Herendeen revised the year’s sales and earnings...

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