Connect with us

Hi, what are you looking for?

Jewish Business News


Bill Ackman Loses $321 Million in One Day After Valeant Plunges

BILL ACKMAN screen shot

Even for the beleaguered shareholders of Valeant Pharmaceuticals International Inc., Monday was an unusually bad day.

The company’s biggest owner, investment firm Ruane Cunniff & Goldfarb, lost an estimated $525 million after shares of the drugmaker fell more than 18 percent yesterday, the biggest decline since October, according to data compiled by Bloomberg. T. Rowe Price Group Inc. had a one-day drop of about $324 million, and William Ackman’s Pershing Square Capital Management gave up $321 million. The estimates assume the investors still own the number of shares listed in their most recent regulatory filings.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Valeant tumbled after the company withdrew a financial forecast, delayed the release of fourth-quarter results and confirmed a previously undisclosed probe by the U.S. Securities and Exchange Commission that came to light after media inquiries. Valeant,  which has been under scrutiny for its soaring drug prices, accounting and distribution practices, is down roughly 75 percent since its August peak and 35 percent in 2016 through Monday. Shares fell 4.3 percent to $63 at 10:08 a.m. in New York on Tuesday.




You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.