Analysts Hail Pearson's Return To Valeant As Patent Challenges From Allergan Looms

Patent challenges, restatement of earnings and lack of forward looking guidance are all greeting Michael Pearson, Valeant’s former Chairman and CEO, who is coming back to the firm today. Pearson’s job responsibilities are being clipped, with his chairman title being an oversight role at Valeant to be executed by Robert A. Ingram, a former executive of GlasxoSmithKline, the company announced over the weekend.

Analysts encouraging on Pearson’s Valeant return but concerned about lack of financial guidance

The meme among bank analysts regarding the return of Pearson was overwhelmingly supportive, but one issue was raised. JPMorgan called the coming home party “encouraging,” BMO called the move “positive” and Nomura...