Valeant gives hedge fund Pershing Square one board seat: Reuters

Embattled Valeant Pharmaceuticals International Inc has added a representative from investor Pershing Square Capital Management to its board of directors, Reuters report. Pershing Square, a U.S. hedge fund run by activist investor Bill Ackman, bought a stake in Valeant last year when the drug-maker's shares were on the rise. They have fallen 68 percent since.

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