The Morning Brief: Good News for Ackman as Valeant Shares Surge

Shares of Valeant Pharmaceuticals International surged more than 25 percent on Tuesday, to close at $28.16, after the reeling drug maker maintained its guidance for the year when it announced quarterly earnings. It also unveiled a restructuring of its businesses. “We are also announcing a new strategic direction for Valeant today, which at its heart has a mission to improve patients’ lives, and will involve reorganizing our company and reporting segments,” said Joseph Papa, chairman and chief executive officer, in a press release.

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