Nearly two weeks after Valeant(VRX) cut ties with specialty pharmacy Philidor, which it owned but didn’t own, when we were told that “The [ad hoc] committee will be meeting promptly to determine the work plan for its review in consultation with counsel.”, the company has decided to host another conference call today.
the Company will provide a business update for investors on a conference call to be held Tuesday, November 10, 2015 at 8:00 a.m. ET.
J. Michael Pearson, Chairman and Chief Executive Officer, together with Robert Rosiello, Chief Financial Officer, Dr. Ari Kellen, Company Group Chairman, Deb Jorn, Company Group Chairman and Tanya Carro, Corporate Controller, will conduct the call.
The conference call on November 10 will consist of an overview of current plans and priorities, including the transition plan from Philidor, and an update on the Company’s operations. Immediately thereafter, there will be a question and answer segment for investors and analysts.
Missing is any update from the ad hoc committee investigating Valeant’s actions. With his job, and the company on the line, Michael Pearson continues to act without any sense of urgency to decisively address the company’s apparent misdeeds. In what year can we expect the ad hoc committee to finish it work? Will the company still exist then?
Disclosure: The author owns Valeant puts