Author Topic: VRX - Valeant Pharmaceuticals International Inc.  (Read 1141023 times)

globalfinancepartners

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Re: VRX - Valeant Pharmaceuticals International Inc.
« Reply #1510 on: May 18, 2015, 03:23:12 PM »
Ackman was asked about Charlie Munger's comments on Valeant on today's Pershing Square conference call and mentioned that he had had a chance to ask Charlie about his comments on VRX.  Charlie said basically that he did not know Mike Pearson personally and has heard very good things about him from people he respects.  But "Call me old fashioned" I don't like companies with low tax rates that use a lot of leverage and do a large amount of acquisitions quickly... "Call me old fashioned."

Ackman responded "well we will call Mr. Munger old fashioned"  Called Munger's criticism "fair" and said where it is not fair is that Valeant is not at all like ITT. (the conglomerate Mr. Munger made the unflattering comparison with)  ITT had a high priced stock and did a lot of acquisitions of businesses that had little to no strategic fit with each other and it was eventually broken up.  Valeant is not a random assemblage..  they are very strategic in what they go after.


merkhet

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Re: VRX - Valeant Pharmaceuticals International Inc.
« Reply #1511 on: May 18, 2015, 03:50:35 PM »
That was a good clarification of that comment.

Liberty

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Re: VRX - Valeant Pharmaceuticals International Inc.
« Reply #1512 on: May 18, 2015, 04:26:26 PM »
Ackman was asked about Charlie Munger's comments on Valeant on today's Pershing Square conference call and mentioned that he had had a chance to ask Charlie about his comments on VRX.  Charlie said basically that he did not know Mike Pearson personally and has heard very good things about him from people he respects.  But "Call me old fashioned" I don't like companies with low tax rates that use a lot of leverage and do a large amount of acquisitions quickly... "Call me old fashioned."

Ackman responded "well we will call Mr. Munger old fashioned"  Called Munger's criticism "fair" and said where it is not fair is that Valeant is not at all like ITT. (the conglomerate Mr. Munger made the unflattering comparison with)  ITT had a high priced stock and did a lot of acquisitions of businesses that had little to no strategic fit with each other and it was eventually broken up.  Valeant is not a random assemblage..  they are very strategic in what they go after.

Thanks. So basically, those of us who said that Munger wasn't very familiar with the situation and just said that based on surface level pattern recognition were right.
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Liberty

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giofranchi

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Re: VRX - Valeant Pharmaceuticals International Inc.
« Reply #1514 on: May 19, 2015, 06:35:40 AM »
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loganc

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Re: VRX - Valeant Pharmaceuticals International Inc.
« Reply #1515 on: May 19, 2015, 09:57:22 PM »
As an aside, it seems like (from the Pershing Square call) Howard Schiller may have left due to CEO aspirations.  Obviously, Pearson is the entrenched CEO of this company and will not be leaving any time soon (hopefully). 

Phaceliacapital

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Re: VRX - Valeant Pharmaceuticals International Inc.
« Reply #1516 on: May 19, 2015, 11:16:49 PM »
As an aside, it seems like (from the Pershing Square call) Howard Schiller may have left due to CEO aspirations.  Obviously, Pearson is the entrenched CEO of this company and will not be leaving any time soon (hopefully).

A repeat of Endo's CEO? (Can't remember his name, Silva?)
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giofranchi

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Re: VRX - Valeant Pharmaceuticals International Inc.
« Reply #1517 on: May 19, 2015, 11:39:03 PM »
A repeat of Endo's CEO? (Can't remember his name, Silva?)

In the Q1 2015 conference call Shiller has talked about a private company.

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Liberty

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Re: VRX - Valeant Pharmaceuticals International Inc.
« Reply #1518 on: May 20, 2015, 06:41:59 AM »
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giofranchi

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Re: VRX - Valeant Pharmaceuticals International Inc.
« Reply #1519 on: May 20, 2015, 06:59:02 AM »
http://www.reuters.com/article/2015/05/20/us-amounpharmaceuticalco-m-a-valeant-pha-idUSKBN0O519P20150520

Valeant Said to Be in Talks to Acquire Egyptian Drugmaker Amoun

Veterinary?... Ackman?... Zoetis?... We will see! ;)

Cheers,

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