Should You Buy This Hot Pharma Spec At $23?

This compansy' shares have crashed 77 percent YTD. Consolidation may offer a new entry opportunity for this restructuring drug company. It is highly unlikely to go bankrupt. The drug company reaffirmed its revenue guidance as part of its 2nd quarter earnings release, and guided for significant debt reductions on the back of asset sales and free cash flow. Further, its new Chief Executive Officer put $8 billion of non core asset sales on the table in order to pay down the drug company's debt.

Drug company Valeant Pharmaceuticals International, Inc. (NYSE:VRX) was the most exciting story in the stock market of 2015/6 if you ask me. Unfortunately, shareholders of Valeant Pharmaceuticals that bought into the acquisition model a year ago are now sitting on devastating losses. I can only say congrats to all those investors that jumped off the sinking ship in time last year, and those investors that actually shorted the drug company.

Source: Seeking Alpha

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