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Valeant says CEO J. Michael Pearson hospitalized with severe pneumonia

Valeant Pharmaceuticals International Inc Chief Executive J. Michael Pearson was hospitalized with a “severe case of pneumonia” on Friday and is receiving treatment, a company spokeswoman said. Pearson, 56, joined Valeant as CEO in September 2010 after a 23-year career at McKinsey & Company and became chairman of the board in 2010. Under Pearson's leadership, the company has come under U.S. government scrutiny for acquiring off-patent drugs and drastically hiking the prices.

Valeant eyes smaller deals to build on Salix, Dendreon purchases

Valeant Pharmaceuticals International Inc will use its acquisitions of Salix Pharmaceuticals Ltd and assets of Dendreon Corp for smaller deals that fit into those businesses, Chief Executive Officer Michael Pearson said on Monday. Laval, Quebec-based Valeant on Sunday announced its largest-ever acquisition, the $10.1 billion cash purchase of Salix, known for its drug Xifaxan to treat irritable bowel syndrome.