Matches in DBpedia 2016-04 for { <http://wikidata.dbpedia.org/resource/Q1700871> ?p ?o }
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- Q1700871 abstract "Valeant Pharmaceuticals International, Inc. is a publicly traded multinational specialty drugs company based in Laval, Quebec, Canada. The company focuses on purchasing the rights to older generic drugs and raising prices, sometimes to hundreds or thousands of dollars per pill. Valeant's main drug markets include neurology, dermatology and infectious disease with several drugs in late-stage clinical trials and several currently on the market. In addition, Valeant has a portfolio of more than 500 products from its prior history as a group of specialty chemical and radiochemical research, development and supply companies with a history stretching back to the 1960s. Valeant's strategy of exponential price increases on lifesaving medicines has been described by Berkshire Hathaway Vice Chairman Charlie Munger as "deeply immoral" and "similar to the worst abuses in for-profit education."Valeant sells a wide range of drugs, including over-the counter medications and medical devices, as well as prescription drugs such as antidepressant Wellbutrin XL. Kinerase, which uses kinetin as active ingredient, is one of the most popular products of Valeant.An important part of the growth strategy for Valeant has been acquisitions, sometimes in the multibillion-dollar range, of medical and pharmaceutical companies. As of July 2015, the company was valued at over $90 billion USD ($116 billion CAD) by market capitalization, making it the largest public company in Canada and the largest pharmaceutical company in the nation. By October 2015 Valeant's stock price had dropped to just less than $72.60 USD (approximately $126 CAD), giving a market capitalisation of $24.77 billion USD ($43 billion CAD). This represents a decrease of approximately 80% since the July high. By December 29, 2015 shares fell "10.5 percent to $102.14" on the New York Stock Exchange as Valeant's board of directors handed the duties of CEO J. Michael Pearson, who was hospitalized with severe pneumonia, to a group of executives overseen by a committee. On January 6, 2015, Valeant named Howard B. Schiller interim chief executive. Valeant's debt reached roughly $30 billion by 2016 due largely to acquisitions.".
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