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Case
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Reference no. A229
Subject category: Finance, Accounting and Control
Authors: Maureen F. McNichols (Stanford Graduate School of Business, Stanford University); Jaclyn Foroughi (Stanford Graduate School of Business, Stanford University)
Published by: Stanford Business School
Originally published in: 2017
Version: 1 April 2017
Length: 33 pages
Data source: Field research
Topics: Accounting practice; Compensation; Shareholder value; Disclosures; Valuation; Balance sheet
Share a link: https://casecent.re/p/172914
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Abstract

In February 2008, as world markets slid deeper into economic decline, J Michael Pearson joined Valeant Pharmaceuticals, a specialty pharmaceuticals company, then based in a quiet suburb of southern California. By August 2015, the stock price peaked, valuing the company at nearly USD90 billion, up from USD2 billion in 2008. In that time, Valeant had made over 100 acquisitions with total revenues growing from roughly USD750 million in 2008 to over USD10 billion in 2015. The explosive growth of Valeant in just seven-and-a-half years was not without purpose.

Time period

The events covered by this case took place in 2017.

Geographical setting

Region:
Americas
Country:
United States
Compact case
Supplement
-
Reference no. A229SQ
Subject category: Finance, Accounting and Control
Authors: Maureen F. McNichols (Stanford Graduate School of Business, Stanford University); Jaclyn Foroughi (Stanford Graduate School of Business, Stanford University)
Published by: Stanford Business School
Originally published in: 2017
Version: 1 April 2017
Length: 4 pages
Data source: Field research
Topics: Accounting practice; Compensation; Shareholder value; Disclosures; Valuation; Balance sheet
Notes: For terms & conditions go to www.thecasecentre.org/freecaseterms
View full details

About

Abstract

In February 2008, as world markets slid deeper into economic decline, J Michael Pearson joined Valeant Pharmaceuticals, a specialty pharmaceuticals company, then based in a quiet suburb of southern California. By August 2015, the stock price peaked, valuing the company at nearly USD90 billion, up from USD2 billion in 2008. In that time, Valeant had made over 100 acquisitions with total revenues growing from roughly USD750 million in 2008 to over USD10 billion in 2015. The explosive growth of Valeant in just seven-and-a-half years was not without purpose.

Settings

Time period

The events covered by this case took place in 2017.

Geographical setting

Region:
Americas
Country:
United States

Related

Compact case
Supplement
-
Reference no. A229SQ
Subject category: Finance, Accounting and Control
Authors: Maureen F. McNichols (Stanford Graduate School of Business, Stanford University); Jaclyn Foroughi (Stanford Graduate School of Business, Stanford University)
Published by: Stanford Business School
Originally published in: 2017
Version: 1 April 2017
Length: 4 pages
Data source: Field research
Topics: Accounting practice; Compensation; Shareholder value; Disclosures; Valuation; Balance sheet
Notes: For terms & conditions go to www.thecasecentre.org/freecaseterms
View full details