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.
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