Shareholders in Valeant Pharmaceuticals (TSX:VRX) used the company’s annual general meeting Tuesday as a forum to vent their gripes with the struggling drugmaker.
Some stockholders told CEO Joseph Papa that they were unhappy with Valeant’s low share price, insufficient response to negative media coverage and his predecessor’s lawsuit against the company seeking extra compensation.
Their frustration came after Papa said Valeant is making progress to stabilize itself after nearly two years of challenges, including a stock price that has plummeted from nearly $350 on the Toronto Stock Exchange in August 2015 to about $14 early Tuesday morning.
(Sponsored)
Local businesses face hiring obstacles due to immigration pullback, flawed screening
In his 39 years of practicing immigration law, Warren Creates (a rare Law Society Certified Specialist) has never seen an environment so challenging for employers looking to hire workers from
How Westboro’s female entrepreneurs are making it an attractive destination to live, work and play
When fitness guru Amber Stratton opened the first Pure Yoga studio in Ottawa in 2012, Westboro was her first choice. “The space we found was a really good starting point
Papa also said Valeant has made inroads to reduce its debt, adding that he doesn’t believe its current share price reflects the efforts it has made to turn itself around.
Still, he said a proposal to change the company’s name given the negative perception tarnishing it remains under consideration.
