The wealth effect orchestrated by former Fed Chairman Ben Bernanke has helped send financial markets to record highs. The Dow Jones (DIA) was around 8,000 when President Obama took office and exceeded 26,000 since President Trump took the helm. Certain drug companies took advantage of the liquidity in the market by rolling up other drug companies, cutting R&D and hiking drug prices. Valeant (VRX), Mallinckrodt (MNK) and Allergan (AGN) delivered strong top line growth through acquisitions and were rewarded with high valuations.
In 2015 placed a moratorium on acquisitions and vowed to cut debt via asset sales. The company has pared debt by about $6 billion, yet the company remains financially impaired. According to Shocking The Street, an investment service the Shock Exchange runs in conjunction with Seeking Alpha, Valeant is insolvent. Wednesday April 4th at 10am the Shock Exchange will explain Valeant’s insolvency in detail. The event can be viewed via live stream below.
Valeant’s Insolvency Explained Wednesday April 4, 2018 At 10AM
Details for the live stream are below. The presentation is available within the March 29, Shocking The Street article, Valeant Is Insolvent.
[…] LIVESTREAM: Valeant’s Insolvency Explained Wednesday April 4th, At 10AM […]
[…] April 4th the Shock Exchange held a live stream event where he explained Valeant’s insolvency. The event was oversubscribed with thousands of investors […]