Monday, May 8, 2017

A Quite Smallish Merck Related Item -- From Last Week...

It has been about a year or so, since we last mentioned the former high-flying, now struggling Valeant Pharmaceuticals.

Its connections to former Schering -Plough CEO Hassan have been well-documented here -- via the now ousted CEO Pearson.

Valeant has lost 95 per cent of its market value, in the prior two years, or so. So it surprised me to read that one of Merck's higher ranking external communications mavens, Lainie Keller, had jumped ship -- to join Valeant at the end of last week:
. . . .In a newly created role, Keller will be responsible for executing external corporate communications and media relations strategies for Valeant. She joined the company from Merck & Co., Inc., where she most recently served as a director of corporate media relations, overseeing corporate, financial, litigation and policy communications. During her 10 years at Merck, she also served as a director of communications for various product portfolios. Prior to that, she worked at various public relations firms for more than 10 years, managing business for health care, corporate and consumer clients.

Communicating accurately and transparently is one of our highest priorities,” said Scott Hirsch, senior vice president, Business Strategy and Communications, Valeant. “Lainie’s experience in developing and leading successful, strategic communications programs on behalf of global pharmaceutical and health care companies will be invaluable as we continue to transform Valeant. . . .”

With Valeant stock at around $13.50/share -- from a high of around $345 -- I'd say the turnaround. . . hasn't really started yet. Onward -- to hear argument, in the Fourth Circuit. It will be an invigorating day, to be sure.


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