The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses

The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses

05.01.2016 News

The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax lossesBill Ackman, the owner of the Pershing Square Capital Management investment firm recently announced that he sold 5 million shares in a major pharmaceutical company Valeant Pharmaceuticals. Thus,  his part fell from 9.9% to 8.5%.

In an official statement, which was provided by the USA regulatory authorities stated that the sale aims to cover tax losses. The sale was made by value in the December 2015 ($ 100 – $ 115.)

Before that, in autumn 2015 the company Pershing Square Capital Management increased its stake in Valeant Pharmaceuticals from 5.7% to 9.9%, after allegations of fraud aimed at increasing income from the pharmacy chain Philidor.

At the end of 2015 the shares of Valeant Pharmaceuticals fell rapidly, against the background of all this its  head went into a long-term medical leave. In addition, the company has reduced the revenue forecast for 2016.

Pershing Square Capital Management  is the US investment fund, which was founded in 2006 by businessman Bill Ekman. The fund’s specialty is to invest in businesses and non-profit organizations, as well as future projects.  The company gives benefits to businesses that specialize in product development in the field of medicine, environment and energy. Such spheres, according to the owner of the fundneed foreign investments and development most of all.

For 2014 the total amount of the fund’s investment in various projects amounted to more than 250 million dollars.

Recently, the company bears the tax losses, and therefore forced to reduce their stakes in the companies.

Source: pharma.net.ua

Other articles

  • Netflix reported a slowdown in the number of new subscribers
    News

    Netflix reported a slowdown in the number of new subscribers

    The streaming service Netflix published quarterly reports, which did not meet analysts’ expectations on a number of indicators. In this regard, the company’s shares fell by 5.7% during electronic trading. For example, Netflix’s earnings per share were $ 1.74, while analysts surveyed by Refinitiv expected $ 2.14. The number of new paid subscribers was 2.2 […]

  • Nokia has become a 5G supplier for Telia in Scandinavia and the Baltics
    News

    Nokia has become a 5G supplier for Telia in Scandinavia and the Baltics

    Finnish corporation Nokia will supply about 7.5 thousand 5G transmitters for Telia in Finland, Scandinavia and the Baltics, the equipment supplier said on Wednesday. Telia is a telecommunications company. The headquarters is located in Stockholm. The company’s largest shareholders are the governments of Sweden (37.3%) and Finland (11.7%). The company serves all government communications resources […]

  • The UN has estimated the scale of the decline in world trade in 2020
    News

    The UN has estimated the scale of the decline in world trade in 2020

    Global trade turnover in 2020 will decrease by 7-9%. This was announced on Wednesday, October 21, by the RBC-Ukraine news agency with reference to the report of the UN Conference on Trade and Development UNCTAD. The decline in trade has occurred in all regions of the world due to quarantine restrictions, the report said. They […]

  • The founder of Microsoft announced when the drug from COVID-19 will appear
    News

    The founder of Microsoft announced when the drug from COVID-19 will appear

    The coronavirus epidemic in the world will intensify by the end of this year due to the seasonality of the infection, but in early 2021 the situation will improve. This opinion was expressed by the head of Microsoft Bill Gates at the virtual conference GeekWire Summit. This was reported by Inc. “The good news is […]

  • The second plant of the Ukrspirt was sold at the auction
    News

    The second plant of the Ukrspirt was sold at the auction

    The State Property Fund sold the second object of the alcohol industry – Artemivsk distillery – for 50 million hryvnias. This was reported by the press service of the State Property Fund on Facebook. “The auction for the sale of the property of Artemivsk MTD and the storage of alcohol has just ended. This is […]

  • WHO has announced another record with COVID-19
    News

    WHO has announced another record with COVID-19

    In the world last week, coronavirus was found in another 2.4 million people – a record high since the beginning of the pandemic. This was reported by the WHO on Tuesday, October 20. “The number of new COVID-19 cases continues to grow rapidly, while the number of new deaths remains relatively stable … As of […]

  • Pfizer submits the application to the FDA for permission to use the emergency vaccine of COVID-19 in November
    News

    Pfizer submits the application to the FDA for permission to use the emergency vaccine of COVID-19 in November

    Shares of the largest US pharmaceutical company Pfizer, down to 3.14% since the beginning of the year, rose to 3.83% on Friday on good news about its vaccine against the COVID-19. Currently, the mTNA candidate vaccine of BNT162b1, developed by Pfizer in the partnership with the German company BioNTech, the mechanism of the action of […]

  • Halliburton’s net loss in January-September was $ 2.7 billion
    News

    Halliburton’s net loss in January-September was $ 2.7 billion

    The net loss of the American oil service company Halliburton Inc., attributable to the main company, in January-September amounted to 2.71 billion dollars against the profit of 522 million a year earlier, according to the company reports. Halliburton’s diluted loss per share in the reporting period was $ 3.08 against earnings of $ 0.6 a […]

Read also

The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses
News

Bayer suffered a net loss of 8.1 billion euros in the first half against a year earlier

The net loss of the German chemical and pharmaceutical concern Bayer AG in the first half of 2020 amounted to 8.059 billion euros against profit a year earlier, according to the company’s reports. The loss in terms of the share was 8.2 euros versus 1.68 euros in profit a year earlier. Revenues decreased with 0,3% […]

Next
The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses
News

The “Interhim” Odessa pharmaceutical company invested 42 million UAH in its production

The “Interhim” pharmaceutical company has completed the construction of laboratory and manufacturing facility in Odessa. Besides, the company has invested in increasing of production capacities. This step will allow the company to increase 4 times its production. At the beginning of May  2016 the total investment  is  42 million euros. The number of new jobs […]

Next
The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses
News

For purchase of the vaccines COVID-19 will be allocated 2.6 billion UAH

Ukraine will allocate 2.6 billion hryvnias for the purchase of a coronavirus vaccine. This was stated by Finance Minister Serhiy Marchenko at the press conference on Monday, September 14. “By 2023, we have a real opportunity to ensure health care spending at 5%. There is an increase in 2021 to 4.2% of GDP for health […]

Next
The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses
News

Among the 1 million companies operating in Ukraine only 16% of employees work in IT

Ukrainian monitoring center registration data OpenDataBot has promulgated the final quantitative indicators of the enterprises registered in Ukraine. From these data, it became clear that for the year in Ukraine already exist more than a million active businesses, but despite this, very few of them are operating in the field of intelligent technologies (IT) – […]

Next
The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses
News

Amazon has banned the import of seeds into the United States

Amazon has banned the import of seeds to the United States because the Americans received thousands of parcels from unknown shippers from China. In this regard, Amazon informed foreign partners of its decision and obliged sellers to remove publications with appropriate proposals. Now sell the seeds only can those who is in the United States, […]

Next
The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses
News

Tesla plans to produce the Model Y with the new technology battery at the plant in Berlin

Shares of Tesla rose by 2.73% to $ 425.30 on Wednesday amid overall stock index growth, however, this growth was lower than the growth of shares of competitors such as Ford, General Motors and Chinese automaker NIO, which rose by 3.58%, 4% and 4.3% respectively. Tesla’s current share price of $ 77.19 is below the […]

Next
The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses
News

Three banks have legal proceedings with the Creative

Two state banks have filed a lawsuit against the Creative  regarding the reimbursement of debts. In particular, Ukreximbank  wants to recover  57.71 million UAH and $ 7.84 million of arrears on the loan agreement dated November  17, 2008. Also Oschadbank wants to compensate another $ 25.24 million. In addition, Piraeus Bank ICB is trying to […]

Next
The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses
News

The court restrainted Billa to open a supermarket on a parking area

The “Billa-Ukraine” Company was restrainted the exploitation of the ground floor of an apartment house №27 on the Chornovil street in Kyiv, where on April 27, 2016 the opening of the supermarket was planned. This decision was concluded by the  Shevchenko district court on April 21. As reported the initiative group of the residents, the […]

Next
The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses
News

Real Case Studies and Productive Networking: Reasons to Attend AI Conference Kyiv

The next week, on June 4, Smile-Expo will host large-scale AI Conference Kyiv. The event will focus on the use of artificial intelligence in business and will bring together leading industry experts. Who and why should attend the conference – further in the article. Four Reasons to Attend AI Conference Kyiv 1. Seven hours of […]

Next
The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses
News

Kurt Walker became a member of the board of a Ukrainian transport company

Former special representative of the US State Department on Ukraine Kurt Walker on Tuesday, September 1, became an independent member of the Board of Directors of BGS Rail. This was reported by LIGA. Business with reference to the press release. It is noted that Kurt Walker will also work as an advisor to the chairman […]

Next
The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses
News

Foreign pharmaceutical company will invest $ 50 million in the construction of a plant in the Kiev region

Foreign pharmaceutical company Euro Pharma International is building a new pharmaceutical plant in Kiev Svyatoshinsky district, Kyiv region. The first phase of the project start is scheduled for autumn 2016. To date, the company estimates the volume of investments of $ 50 million. “I am very pleased that the foreign investors are interested in our […]

Next
The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses
News

Odessa Port Plant receives a new manager?

Direction of LLC Development Construction Holding (DCH), whose president is Oleksander Yaroslavskyi, is considering to lease the OPP instead of the acquisition of assets of this PJSC, reported Zn.ua. In an official statement of OPP representatives was indicated that they appealed to the State Property Fund of Ukraine in order to initiate an open competition […]

Next
The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses
News

Facebook blocked the Ukrainian community retailer LeBoutique for the use of another’s trademark

A few days ago the official Facebook-community of one of the Ukraine’s largest shopping clubs LeBoutique was unavailable. The community is quite popular; about 35 000 users signed for the page. As reported in AIN.UA shopping club, the community was blocked by administration of the social network for the use of someone else’s trademark. The […]

Next
The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses
News

The manufacturer of “Oleyna” opens a plant in Mykolaiv region

The “Bunge Ukraine” company launches a new oil-extraction plant in Mykolaiv region. The estimated capacity  is 2400 t / day. According to the “APK-Inform”,  as referred to the sources of  the company,  the “Bunge Ukraine” company plans to put into operation the oil-extraction plant in Mykolaiv region in the coming months. Currently, the pre-commissioning activities […]

Next
The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses
News

Siemens buys Mentor Graphics in the closest time

The German Siemens AG corporation reported about the acquisition of the American producer Mentor Graphics. The transaction is estimated at $4,5 billion: the price of one share constitutes $37,25. Mentor Graphics main activities are: designing of cable systems, printed circuit boards, functional verification, development of the built-in software etc. The company merger is directed, first […]

Next
The Billionaire Bill Ackman sold 5 million shares of Valeant Pharmaceuticals to cover tax losses
News

Halliburton’s net loss in January-September was $ 2.7 billion

The net loss of the American oil service company Halliburton Inc., attributable to the main company, in January-September amounted to 2.71 billion dollars against the profit of 522 million a year earlier, according to the company reports. Halliburton’s diluted loss per share in the reporting period was $ 3.08 against earnings of $ 0.6 a […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com