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Valeant Pharmaceuticals International

September 12, 2006 | Daniel Yi, Times Staff Writer
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 4, 2006 | Daniel Yi, Times Staff Writer
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.
May 3, 2008 | Daniel Costello, Times Staff Writer
Valeant Pharmaceuticals International of Aliso Viejo said Friday that it was abandoning hope of becoming a global drug company and would cut nearly half of its workforce as part of a massive restructuring plan. The maker of neurology and dermatology drugs said it would lay off 130 employees in the U.S. and Mexico and eliminate 1,250 additional jobs overseas. The company will divest many of its overseas operations in the coming months, Valeant said.
April 15, 2004 | From Bloomberg News
Valeant Pharmaceuticals International, which changed its name from ICN Pharmaceuticals Inc. last year, must halt sales of a skin-care product that a jury found infringed a rival's patents, a judge ruled. U.S. District Judge Joseph J. Farnan Jr. in Wilmington, Del., concluded that Valeant should be permanently barred from selling its Glyquin line of skin lotions designed to bleach out age spots. In November, jurors concluded that Valeant intentionally infringed TriStrata Technology Inc.'
November 14, 2006 | From Bloomberg News
UnitedHealth Group Inc. delayed filing its third-quarter financial report with U.S. regulators while the company, the largest U.S. health insurer, sorts out the costs of restating stock option grants. The costs will be "significantly greater" than the $286 million estimated in May, UnitedHealth said Monday in a notice with the Securities and Exchange Commission confirming a statement the company made on Nov. 8. UnitedHealth, based in Minnetonka, Minn.
January 7, 2005 | Jonathan Peterson and Thomas S. Mulligan, Times Staff Writers
Serving on a corporate board has traditionally been high in prestige, low on demands and, especially at big companies, generous in pay. But a settlement announced this week, in which 10 former WorldCom Inc. board members agreed to pay $18 million of their own money to settle a lawsuit by investors, suggests that directors may now become a bigger target for angry shareholders. "I'm sure right now it's disturbing to any director," said Richard H.
January 4, 2007 | Thomas H. Maugh II, Times Staff Writer
Two drugs once commonly used to treat Parkinson's disease, pergolide and cabergoline, produce heart valve defects in as many as a quarter of the patients who use them, Italian and German researchers reported today. Scattered findings from smaller studies have already suggested that the drugs pose a risk, but the two new papers in the New England Journal of Medicine show that the risk is much higher than suspected. "This is not a rare side effect," said Dr. Bryan L.
January 17, 2006 | Jonathan Peterson, Times Staff Writer
A Securities and Exchange Commission plan to require better disclosure of executive pay would force companies to reveal specific details about future benefits, perks and stock deals that are often hidden or omitted from regulatory filings. The commission is expected to vote today to seek public comment on the measure, a crucial step toward passage of a final rule this year. The initiative could lead to the first overhaul of pay disclosure requirements since 1992.
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