Valeant Pharmaceuticals/Bill Ackman E-mails

Subscribe

Released yesterday.

Highlights:

Halt the Stock
Send out a Press Release
Advice on Conference Call
Don't speak with the media
Rome is burning

Crossposting, credits to humanafteralll from WSB.

Attachment Size
Halt the Stock 57.91 KB 57.91 KB
Send out a Press Release 115.64 KB 115.64 KB
Advice on Conference Calls 118.77 KB 118.77 KB
Don't Speak With the Media 115.11 KB 115.11 KB
Rome is Burning 160.01 KB 160.01 KB
Region

Comments (12)

 
May 10, 2016 - 7:31am

there is no date on the last email, but if Ackman thinks that Valeant is dead then whats with all the BS in the latest investor presentation about how Valeant will come back to life via appointing Joe Papa as a new CEO

You killed the Greece spread goes up, spread goes down, from Wall Street they all play like a freak, Goldman Sachs 'o beat.
 
May 10, 2016 - 6:51pm

Arti:

there is no date on the last email, but if Ackman thinks that Valeant is dead then whats with all the BS in the latest investor presentation about how Valeant will come back to life via appointing Joe Papa as a new CEO

He has an exorbitant portion of his entire fund invested in Valeant. In addition, there aren't any willing buyers for VRX. He's desperate to shore up support for the company because there's no way out.

On another note, John Hempton of Bronte Capital has been killing him on VRX from the beginning. http://brontecapital.blogspot.com.au/2016/05/if-someone-disagrees-with-…

 
May 11, 2016 - 3:09am

There is a way, admit that you are wrong, sell/restructure and move on. Position is 13% from the funds total value, not the largest one, and after the stock collapsed it's even less. Hempton was not the only one dissing VRX, it was pretty much on everyone's tongue after the Citron's report.

You killed the Greece spread goes up, spread goes down, from Wall Street they all play like a freak, Goldman Sachs 'o beat.
 
May 25, 2016 - 8:45pm

Yes, it is. These are pulled directly from a US Senate PDF titled, "Valeant Pharmaceutical's Business Model: The Repercussions for Patients and the Health Care System". It's an 818 pg document including all of the above e-mails and analysis of Valeant.

DL: senaging.app.box[DOT]com/s/0853lykekrlogev4uuwma6md7hdb97z0

78mb PDF. Page 483.

Apologies for the broken link for being a new user; just add https:// and dot. Hope this helps.

 
May 13, 2016 - 4:34pm

couchy:

VRX is really just a company full of consultants with no R&D pipeline - all they do is acquire and cut costs. But cutting out marketing for pharma just reduces your next wave of revenues so the earnings quality is shit. They basically think they can take the R&D risk out of the biopharma model and aren't the first to try it. Other big pharma companies eventually got slammed - the only difference is vrx is catching themselves earlier before the fall.

IMO vrx needs agn more than the other way around - they also need ackmann more than ackmann needs them. i wouldn't touch vrx until they build themselves into a legitimate research house (doubtful although this deal is kind of a move toward that direction) because vrx can't play this acquisition game forever. Pharma is about landing homeruns, not walking to first base. big risks big rewards.

http://www.wallstreetoasis.com/blog/ackman-teaming-with-valeant-to-take…

 
May 16, 2016 - 1:28pm

They've announced a pretty late date for releasing Q1 earnings also. They said in their announcement that it will still be released "well ahead of the hard deadline before we default" or something like that. Dude that's not a bragging point...how hard is it to release earnings? I still find the delay on the Q4 2015 earnings report bizarre.

 
May 16, 2016 - 7:40pm

13-Fs became public today for 3/31 period. Tons of big name holders completely blew out of VRX: Brahman, Viking, Lone Pine, Grantham, Brave Warrior, Janus, Coatue.... including TRowe here because they sold an impressive 20mm shares and were the #3 holder. There were a couple additions but more rampant selling for sure.

Talk about capitulating on VRX... not verified but just optically seeing a lot of HF roll-up investors took down exposure / sold roll-up positions. Obviously VRX is the ultimate roll-up blowup but just thought it was interesting that HFs are taking a more conservative approach to the roll-up names

 
Jun 1, 2016 - 1:32pm
I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing.

See my Blog & AMA

Start Discussion

Total Avg Compensation

September 2020 Hedge Fund

  • Vice President (18) $520
  • Director/MD (10) $359
  • Portfolio Manager (7) $297
  • 3rd+ Year Associate (18) $269
  • 2nd Year Associate (25) $242
  • Engineer/Quant (46) $237
  • 1st Year Associate (58) $189
  • Analysts (175) $167
  • Intern/Summer Associate (12) $134
  • Junior Trader (5) $102
  • Intern/Summer Analyst (183) $80

Leaderboard See all

1
Jamoldo's picture
Jamoldo
98.3
2
LonLonMilk's picture
LonLonMilk
98.3
3
Secyh62's picture
Secyh62
98.2
4
CompBanker's picture
CompBanker
97.8
5
Edifice's picture
Edifice
97.6
6
redever's picture
redever
97.6
7
Addinator's picture
Addinator
97.6
8
frgna's picture
frgna
97.5
9
NuckFuts's picture
NuckFuts
97.5
10
bolo up's picture
bolo up
97.4