Activist investor said the company was at risk of a ‘death spiral’
by Emma Court
Documents released by a Senate committee on Friday provide an inside look at the roles and reactions of some top players in the Valeant Pharmaceuticals International Inc. accounting and pricing scandal as it spooled out over the last year.
Valeant found itself in trouble over its practice of buying drugs and then significantly increasing their prices, as well as its relationship with mail-order pharmacy Philidor, which caused it to improperly account for a deal in key financial disclosures.
Here are highlights from emails exchanged by activist investor Bill Ackman with Valeant’s senior management as the crisis played out.