Thread regarding Valeant Pharmaceuticals International layoffs

Mergers and Layoffs

The execs at Valeant have shown themselves to be very narrow-minded and uninformed. VRX bought a fairly small privately held pharmaceutical company named Dow Pharmaceutical (DP). DP had a proven track record of growth and innovation. DP employees were happy. After the takeover DP's contract business all but disappeared simply because other large pharma cos were not comfortable with sharing their project secrets with a large (and fairly ruthless) competitor. Morale instantly dropped to the point where almost every day someone else was leaving the company to find another job. To make things more interesting, Valeant later merged with BioVale, a large pharma company. The result was a super massive round of layoffs. One third of the resources was cut. The original company, DP, as I had known it was reduced to just a mere shell and morale is low. VRX stock dropped, no business synergies were gained from the mergers. To sum it up, this is a bad business model.

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