Valeant CEO cuts outlook for 'distracted' company, shares dive
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Bengaluru
VALEANT Pharmaceuticals International Inc slashed its 2016 forecasts on Tuesday, as its new chief executive said he would focus on rebuilding the reputation of a "distracted organisation" with a debt-loaded balance sheet.
The maker of toenail fungus cream Jublia and anti-depressant drug Wellbutrin, which has faced intense scrutiny for business and accounting practices, missed first-quarter profit estimates on weakness in its dermatology business.
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