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Campaigns / Citron Research → Valeant Pharmaceuticals
Citron Research vs. Valeant Pharmaceuticals

Valeant Pharmaceuticals · VRX

1 deck published between 2015-10-21 and 2015-10-21 — 8 pages, 7 analysed slides total. Outcome: won.

initial thesis

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2015-10-21 initial thesis

    2015 10 Valeant Philador and RandO final a

    8pp · research_note

    Valeant is channel-stuffing through a web of captive specialty pharmacies (Philidor, R&O, plus cloned shells) to fabricate invoices and book phantom revenue — a potential Pharmaceutical Enron; price target $50.