Valeant Pharmaceuticals Intl Inc (NYSE:VRX) announced appointments to the dermatology leadership team of Michael McMyne, who has joined as vice president of Sales, and Stacey Williams, who has joined as vice president of Marketing. Additionally, the company announced Lainie Keller has joined as vice president of Corporate Communications.
New Leadership Team Members Bolster Valeant Dermatology
In his new role, McMyne will be responsible for the dermatology sales force. He most recently served as vice president of operations for Merz North America, Inc., a specialty pharmaceutical and medical device company focused on dermatology, aesthetics medicine and neurosciences. While at Merz, Mr. McMyne launched a channel marketing team and led the integration of two key acquisitions into the company’s dermatology portfolio. Prior to that, McMyne served in various commercial roles at Medicis Pharmaceuticals, including associate director of sales for dermatology.
Williams has joined Valeant to oversee the marketing strategy and execution of the dermatology organization. She has diverse experience in the commercial health care segment that includes medical devices, pharmaceuticals, R&D and manufacturing. Prior to this new role, she was senior marketing director for Merz North America, where she led strategic direction and tactical execution for a neuroscience portfolio that included biologic, pharmaceutical and medical device products.
“Michael and Stacey each have a proven track record of results, execution and strategic agility within specialty pharmaceuticals and more specifically, the specialty of dermatology,” said Bill Humphries, executive vice president and company group chairman, Valeant Dermatology. We are committed to securing the company’s future in the dermatology space, and I look forward to working with these talented leaders to realize the full potential of this key business for Valeant.”
New Role Enhances Corporate Communications Capabilities
In a newly created role, Keller will be responsible for executing external corporate communications and media relations strategies for Valeant. She joined the company from Merck & Co., Inc., where she most recently served as a director of corporate media relations, overseeing corporate, financial, litigation and policy communications. During her 10 years at Merck, she also served as a director of communications for various product portfolios. Prior to that, she worked at various public relations firms for more than 10 years, managing business for health care, corporate and consumer clients.
“Communicating accurately and transparently is one of our highest priorities,” said Scott Hirsch, senior vice president, Business Strategy and Communications, Valeant. “Lainie’s experience in developing and leading successful, strategic communications programs on behalf of global pharmaceutical and health care companies will be invaluable as we continue to transform Valeant.”
Shares of Valeant Pharmaceuticals closed today at $10.07, up $0.23 or 2.34%. VRX has a 1-year high of $33.83 and a 1-year low of $8.31. The stock’s 50-day moving average is $9.96 and its 200-day moving average is $14.44.
On the ratings front, Valeant has been the subject of a number of recent research reports. In a report released yesterday, RBC analyst Douglas Miehm reiterated a Hold rating on VRX, with a price target of $18, which represents a potential upside of 79% from where the stock is currently trading. Separately, on April 20, J.P. Morgan’s Chris Schott reiterated a Hold rating on the stock and has a price target of $10.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Douglas Miehm and Chris Schott have a yearly average loss of 10.5% and a return of 2.8% respectively. Miehm has a success rate of 39% and is ranked #4347 out of 4561 analysts, while Schott has a success rate of 54% and is ranked #1724.
Overall, 3 research analysts have rated the stock with a Sell rating, 9 research analysts have assigned a Hold rating and 3 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 $14.40 which is 43.0% above where the stock opened today.
Valeant Pharmaceuticals International, Inc. engages in the development, manufacture, and market of a broad range of pharmaceutical products in the areas of dermatology, gastrointestinal disorders, eye health, neurology and branded generics. It operates through the following segments: The Bausch + Lomb/International, The Branded Rx, and The U.S. Diversified products.