Valeant Pharmaceuticals Intl Inc (NYSE:VRX) announced that Louis W. Yu, Ph.D. has been appointed to the newly created position of Chief Quality Officer, Global Quality, effective October 3, 2016.
Dr. Yu will report to Joseph C. Papa, Chairman and CEO of Valeant. As a new member of Valeant’s Executive Committee, Dr. Yu will oversee all aspects of quality and regulatory compliance for all of Valeant’s global businesses and operating sites.
Dr. Yu joins Valeant with more than 30 years of leadership experience in the Quality and R&D functions of generic and branded pharmaceutical companies. He was Executive Vice President, Global Quality & Compliance at The Perrigo Company from November 2006 to January 2016, where he was responsible for strategic leadership and regulatory compliance as well as the global patient safety/medical affairs departments. He also served between May and September 2016 as the Senior Vice President, Global Quality and Compliance at AMRI, a contract development and manufacturing organization (CDMO) company.
“Delivering quality products leads to quality health outcomes, and that is what we are focused on at Valeant,” said Joseph C. Papa, chief executive officer of Valeant. “Dr. Louis Yu is a great addition to our organization, and we are delighted to bring him into the company in the important new role of Chief Quality Officer. Dr. Yu’s deep quality leadership experience at a number of branded and generic pharmaceutical companies gives him a deep understanding of what our customers and regulators need, and I look forward to working closely with him.”
Dr. Yu said, “I appreciate the opportunity to lead Valeant’s global quality function and am eager to help the company implement sustainable quality and compliance programs that will further strengthen its businesses.” (Original Source)
Shares of Valeant Pharmaceuticals closed today at $23.68, down $0.91 or -3.70%. VRX has a 1-year high of $179.83 and a 1-year low of $18.55. The stock’s 50-day moving average is $28.42 and its 200-day moving average is $27.24.
On the ratings front, VRX stock has been the subject of a number of recent research reports. In a report issued on October 3, Wells Fargo analyst David Maris reiterated a Sell rating on VRX, with a price target of $19.50, which represents a potential downside of 17.7% from where the stock is currently trading. Separately, on September 20, Deutsche Bank’s Gregg Gilbert assigned a Hold rating to the stock and has a price target of $30.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, David Maris and Gregg Gilbert have a total average return of 3.5% and -0.7% respectively. Maris has a success rate of 48.0% and is ranked #1229 out of 4190 analysts, while Gilbert has a success rate of 45% and is ranked #3087.
Overall, 2 research analysts have rated the stock with a Sell rating, 9 research analysts have assigned a Hold rating and 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $38.90 which is 64% above where the stock opened today.
Valeant Pharmaceuticals International, Inc. is a multinational specialty pharmaceutical company that develops manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, eye health, neurology, and branded generics. The company operates through two operating and reportable segments: (i) Developed Markets and (ii) Emerging Markets. The Developed Markets segment consists of (i) sales in the U.S. of pharmaceutical products, OTC products, and medical device products, as well as alliance and contract service revenues, in the areas of eye health, dermatology and podiatry, aesthetics and dentistry, (ii) sales in the U.S. of pharmaceutical products indicated for the treatment of neurological and other diseases, as well as alliance revenue from the licensing of various products it developed or acquired, and (iii) pharmaceutical products, OTC products, and medical device products sold in Canada, Australia, New Zealand, Western Europe and Japan. The Emerging Markets segment consists of branded generic pharmaceutical products and pharmaceuticals, OTC products, and medical device products. Products are sold primarily in Central and Eastern Europe (primarily Poland and Russia), Asia, Latin America (Mexico, Brazil, and Argentina and exports out of Mexico to other Latin American markets), Africa and the Middle East.