In the Margins
Hedge-fund billionaire John Paulson has joined the Valeant Pharmaceuticals International board of directors. Paulson has been one of the largest shareholders in the company for several years, but a series of scandals at Valeant over its accounting practices and drug pricing have battered the company’s stock and caused the value of Paulson’s stake to plunge 81% to $245 million at the end of last year from $1.3 billion in 2015. Read the original story from The Wall Street Journal.
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