No. of Recommendations: 0
They restated their 10k today and it seems not as bad as made out to be. I think new management could be effective in turning the company around. Is new management a BMW event or work against it? I think it would typically work against a turn around, but in this case it should calm people down.

I understand that their operational style tweaks people, but the model is valid. Buy drug companies, use the commercial drugs, cut R&D. Other drug companies follow this model, just not to the degree that Valeant does, how many organically developed drugs does pfizer have? Probably a handful, if even that, they buy promising startups and develop drugs from there.

Genentech, Amgen and others charge hundreds of thousands of dollars per year for drugs that sometimes have marginal utility in some patients, yet that seems to be more acceptable than Valeant's pricing model. Or at least gets more attention.

I'm still on the fence, but leaning towards a buy I think. I agree that they are probably going to lower prices based on negative press at this point, which might make stock price recovery harder.
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