Stanford Graduate School of Business (USA)
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Valeant Pharmaceuticals: Aggressive Accounting Games
McNichols, Maureen; Foroughi, JaclynCase SGSB-A229-EAccounting and ControlIn 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 $90 billion, up from $2 billion in 2008. In that time, Valeant had made over 100 acquisitions with total revenues growing from roughly $750 million in 2008 to over $10...Starting at €8.20