Valeant names former finance chief interim CEO, current CEO remains ill

NEW YORK -- Valeant Pharmaceuticals named former finance chief Howard Schiller as interim CEO of the troubled pharmaceutical company, while current CEO J.

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Michael Pearson recovers from severe pneumonia.

The company said Wednesday that it does not know when Pearson will return to the company. Shares of Valeant Pharmaceuticals International Inc. fell about 3 per cent in premarket trading.

Schiller was chief financial officer of Valeant up until June. He's currently on the Canadian company's board.

Valeant has recently come under scrutiny for its drug pricing policies, as well as its relationship with the mail-order pharmacy Philidor.



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