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Paulson & Co Declares 6.3 Percent Stake In Valeant

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New York-based hedge fund Paulson & Co on Monday reported a 6.3 percent stake in Canada’s Valeant Pharmaceuticals International Inc. The disclosure comes a week after billionaire investor John Paulson, whose hedge fund firm is the biggest owner of Valeant, joined the company’s board as it restructures to repay debt. Paulson & Co has suffered heavy losses as Valeant’s stock price plummeted some 96 percent since mid-2015 after the drug-maker became embroiled in an accounting scandal and was investigated for hefty price hikes. In March, ValueAct Capital also raised its stake in Valeant, making it the second-biggest stakeholder in the...