August 4, 2006 |
Milan Panic, the controversial executive who became a symbol of corporate excess, agreed to pay $20 million to Costa Mesa-based Valeant Pharmaceuticals International to settle charges that he received unwarranted bonuses four years ago as the company's chairman. The payment settles all outstanding disputes between Panic and the company he founded, formerly known as ICN Pharmaceuticals Inc., Valeant said Thursday.
September 12, 2006 |
Valeant Pharmaceuticals International disclosed Monday that federal regulators had launched an inquiry into stock trades that were made this spring when the Costa Mesa company released results of a drug trial. In a statement, Valeant said the Securities and Exchange Commission had also asked for information about Valeant's efforts to recover controversial bonuses paid to company founder and former Chief Executive Milan Panic.
August 12, 2008 |
Calpine Corp., the U.S. power producer that exited bankruptcy protection in January, reported a profit in the second quarter after a year-earlier loss from reorganization costs. Net income was $197 million, or 41 cents a share, compared with a loss of $500 million, or $1.04, San Jose-based Calpine said Monday. Revenue rose 37% to $2.83 billion. The company also named Jack Fusco chief executive. Calpine said Fusco's appointment was effective Sunday.
September 18, 2008 |
Valeant Pharmaceuticals International agreed to buy Coria Laboratories for $95 million, adding the closely held drug maker's U.S. skin drugs. Valeant will buy all outstanding shares of the Fort Worth company from Coria parent DFB Pharmaceuticals Inc. and other shareholders, Valeant said. The deal will add to Valeant's earnings next year, the Aliso Viejo drug maker said. Valeant's products include Efudex for sun-damaged skin and Virazole for infant respiratory infections.
February 5, 2008 |
Valeant Pharmaceuticals International named J. Michael Pearson, formerly of consulting group McKinsey & Co., as chief executive to succeed Timothy C. Tyson, who resigned. Pearson will also become chairman immediately, replacing Robert A. Ingram, who will remain as lead director, the company said. Valeant stock has lost 31% of its value in the last year. That includes a 17% drop Nov. 1 after the Aliso Viejo, Calif., company's earnings missed estimates. Valeant last month sold U.S. and Canadian rights to hepatitis C drug Infergen to focus on more profitable drugs and streamline its sales force.
April 15, 2008 |
Shares of Valeant Pharmaceuticals International fell the most in five months as the Costa Mesa drug developer regroups after its president quit last month. Valeant reported April 1 that its president, Charles J. Bramlage, quit in late March and that it couldn't estimate the costs of a planned restructuring, which includes firings and asset sales. The price fell $1.12, or 8.3%, to $12.44 a share, and earlier declined 10%. Valeant also fell in early November after third-quarter earnings missed estimates.
April 2, 2008 |
Valeant Pharmaceuticals International, the developer of a novel drug for epilepsy, said Tuesday that its president had quit and that it might have to fire staff and sell assets. Valeant President Charles J. Bramlage resigned last week and "has agreed to assist the company with transition matters over the coming weeks," the Costa Mesa-based company said in a regulatory filing.
March 26, 2012
Ista Pharmaceuticals Inc., the Irvine maker of eye medications that fought off a hostile takeover bid this year, agreed to be bought by Bausch & Lomb Inc. for $500 million. Bausch will pay $9.10 a share in cash for Ista, and the deal should close in the second quarter, the companies said Monday. The bid from the Rochester, N.Y., eye-care company, owned by Warburg Pincus, is 8.6% higher than Monday's closing price for Ista of $8.38 a share. Ista, which sells Istalol for intraocular pressure and Bromday for issues associated with cataract extraction, rebuffed a $327-million hostile bid by Valeant Pharmaceuticals International Inc., calling it "grossly inadequate.
May 27, 2013 |
Valeant Pharmaceuticals International Inc., Canada's largest publicly traded drug maker, is continuing an acquisition spree with an agreement to buy eye-care giant Bausch & Lomb Holdings Inc. for $4.5 billion. The Montreal company, which announced the deal Monday, said it also would pay $4.2 billion in debt owed by privately held Bausch & Lomb, a major manufacturer of contact lenses. Calling Bausch & Lomb a “world-renowned brand,” Valeant's chairman and chief executive, J. Michael Pearson, said the deal would “transform Valeant into a global leader in eye health.” GALLERY: Biggest Southern California companies Valeant said it expects to squeeze out $800 million in annual cost savings by the end 2014 after merging Bausch & Lomb, which is based in Rochester, N.Y., with Valeant's much smaller eye-care operations.