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Valeant CEO cuts outlook for 'distracted' company, shares dive

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Published Wed, Jun 8, 2016 · 09:50 PM

    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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