Valeant Appoints Interim CEO; Pearson Remains Hospitalized

Former Valeant chief financial officer Howard Schiller has stepped in as interim chief executive of Valeant Pharmaceuticals.

Last week, Valeant announced 56-year old CEO J. Michael Pearson's medical leave of absence, following reports that Pearson had been hospitalized and was being treated for a severe case of pneumonia.

Schiller, who spent 24 years at Goldman Sachs before joining Valeant in late 2011, will be tasked with fulfilling Pearson's goal of cutting the company's $30 billion in long-term debt, as well as meeting the revised sales and earnings-per-share targets that Mr. Pearson announced a few weeks ago.

Read the WSJ article

View the most popular news stories in 2015 from Pharmaceutical Manufacturing.