Ackman: Philidor Is No Big Deal, Buy Valeant
This article was originally published in Scrip
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Valeant's prospects were dim with or without Pershing Square's continued backing, but at least one analyst says Ackman's departure sends a signal that business won't rebound at the Canadian specialty pharma any time soon.
Two companies in the biopharma space began trading publicly this week, one to pay off debt, the other to fund an early-stage pipeline.
The biotech is shifting gears after clinical hold on its lead drug was unlikely to be lifted, but the early-stage candidate that it's placing its hopes on is raising red flags for analysts and investors.