Here’s what you should know:
1. Since joining the company in May 2016, Mr. Papa has been tasked with turning Valeant around after its stock plummeted 85 percent. Valeant was accused of price gouging and accounting irregularities.
2. Valeant has billions of dollars in outstanding debt. Since taking over Mr. Papa has sold off select assets, paying back approximately $500 million to date.
3. Valeant also increased its drug pipeline efforts, bringing several products to market.
4. Mr. Papa reaffirmed the company’s commitment to fair pricing. Valeant has a specialty committee which reviews pricing practices.
5. Mr. Papa believes Valeant’s Bausch & Lomb ophthalmology brand and its Salix Pharmaceuticals gastroenterology brand will drive sales. Valeant also has dermatology offerings.
More articles on gastroenterology:
GI center to know: Digestive Diseases Center
Exact Sciences partners with the Packers & more — 5 GI company key notes
Exact Sciences, Green Bay Packers partner to tackle colon cancer — 6 insights
