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

  • The world’s first country legalized bitcoin as a means of payment
    News

    The world’s first country legalized bitcoin as a means of payment

    El Salvador was the first in the world to legalize bitcoin as an official means of payment. Such a law was passed by the country’s parliament. 62 parliamentarians supported the bill, 19 voted against, and three abstained. President Nayib Bukele intends to sign the law soon, after which it will take effect “immediately”. Thus, accepting […]

  • Pfizer has begun testing the COVID vaccine on children under 12 years of age
    News

    Pfizer has begun testing the COVID vaccine on children under 12 years of age

    Pfizer will test its COVID vaccine in children under 12 years of age. Radio Svoboda reported this with reference to the company’s statement. The study will involve up to 4,500 children in the United States, Finland, Poland and Spain. The drug is already approved for use in emergencies for adolescents 12 years and older in […]

  • The president promises industrial reform in 10 years
    News

    The president promises industrial reform in 10 years

    It takes at least 10 years to reform Ukrainian industry. President Volodymyr Zelensky stated this during the Ukraine 30 forum. “Modernization of industry, which has not taken place in Ukraine so far, will take place this time. We are talking about modernization of large industry, any, not just TPP. But do not believe those who […]

  • The media has learned that American billionaires pay meager taxes
    News

    The media has learned that American billionaires pay meager taxes

    In the United States over the past 15 years, 25 billionaires have paid a much lower income tax than they should have. ProPublica based on confidential data from the US IRS published the investigation. In particular, among the 25 billionaires are Berkshire Hathaway CEO Warren Buffett, former New York Mayor Michael Bloomberg, Amazon founder Jeff […]

  • Biden overturned Trump’s decree banning TikTok
    News

    Biden overturned Trump’s decree banning TikTok

    US President Joe Biden on Wednesday, June 9, signed a decree lifting restrictions against Chinese services TikTok and WeChat, imposed by former President Donald Trump. The press service of the White House reports. This is a decree of August 2020 on restrictions against the Chinese companies ByteDance and Tencent, which own the video service TikTok […]

  • Zoom projected revenue for 2021 at about $ 4 billion
    News

    Zoom projected revenue for 2021 at about $ 4 billion

    The company, which was boosted by the coronavirus pandemic, continues to grow customers despite declining video conferencing. From February to April, 497 thousand organizations bought the premium version of Zoom, which is almost 30 thousand more than in the period from November to January. Although these data suggest a slowdown in customer growth, as from […]

  • Virgin Galactic has announced a research flight
    News

    Virgin Galactic has announced a research flight

    Richard Branson’s aerospace company Virgin Galactic has announced a contract for a special research flight by Kelly Gerard, a member of the International Space Institute (IIAS). The astronaut will conduct experiments and test new health technologies while in space. The company’s shares in the premarket rose 7.61% to $ 33.5. “Much of our mission is […]

  • Biden blacklisted 59 Chinese companies
    News

    Biden blacklisted 59 Chinese companies

    U.S. President Joe Biden on Thursday signed a decree banning Washington from investing in 60 Chinese companies that the White House says are undermining U.S. security. “This executive order allows the United States to ban investments in Chinese companies that undermine the security or democratic values ​​of the United States and our allies,” the document […]

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

Berkshire Hathaway is investing $ 570 million in technology startup of the Snowflake

Warren Buffett’s US company – Berkshire Hathaway intends to invest more than $ 570 million in Snowflake, a cloud technology company. It was reported after Snowflake announced a price range for its future initial public offering. The company wants to get the estimate of $ 23.7 billion, writes the Financial Times. Snowflake said that during […]

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

The National Bank spent $ 71 million to support the hryvnia

On September 14-18, the National Bank sold $ 71 million in currency on the interbank foreign exchange market. At the same time, the National Bank did not buy foreign currency in its international reserves during the reporting week. Therefore, the National Bank for the first time in the late July sold the currency on the […]

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

Oschadbank will open 100 new branches in Ukraine

The last two years Oschadbank opened 500 branches in Ukraine. Twelve of them are adapted for people with disabilities. This information was published by the investment portal InVenture Ukraine. The most advanced Oschadbank branches are located in Kyiv, Odessa, Lviv, Kharkiv and Dnipropetrovsk regions. The Bank plans to continue to implement the modernization of branches […]

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

Peloton launches a new exercise bike and treadmill

Shares of Peloton Interactive, which rose 184% since the beginning of the year, fell 3.6% over the past three trading days, despite two price target increase from experts of investment companies. Last week, JP Morgan raised its target price for Peloton shares from $ 58 to $ 105. On Friday, analysts at JMP Securities raised […]

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

The elimination of “generating schemes” – saving of 140 billion UAH for Ukraine

Due to the elimination of corruption patterns in the energy sector, the State Treasury has saved 140 billion UAH. On this figure notified the head of the government of Ukraine Volodymyr Hroisman in an interview to the national news agency Ukrinform. According to the Prime Minister the compensations for Naftohaz and LMKP Teplokommunenergo were hundreds […]

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

China’s economy grew by 4.9% in the third quarter

According to the National Bureau of Statistics of China, the country’s GDP grew by 4.9% year on year in the third quarter. China’s economy is recovering the fastest in the world from the COVID-19 pandemic – GDP decline by closing factories and quarantine in the first quarter of the year already fully compensated, and the […]

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

The Court reopened a case on the right of SANOFI for a trademark “SONAFІT”

Last year, the Commercial  Court of Kyiv initiated a suit of the SANOF I company to the State Intellectual Property Service of Ukraine and to the “Kyivmedpreparat”, PJSC about completely voidance of Certificate  of Ukraine on sign for the goods and services № 187104. The object of dispute  has become a “SONAFІT” trademark registered company […]

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

” Mariupol Ilyich Iron and Steel Works “, JSC lost in the court over 1 billion UAH

” Kryvyi Rih Iron Ore Plant”, JSC  won in a court case to recover from the ” Mariupol Ilyich Iron and Steel Works “, JSC  the part of the ”Metinvest” group, a total 1.32 billion UAH  for the delivered products – the iron ore together with penalty charges. This is stated in the decision of […]

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

Google is investing $ 450 million in the security monitoring company and “smart home” ADT

On Monday, Alphabet and ADT Inc companies announced a long-term partnership agreement. According to the press release, as a result, will be “a combination of award-winning Nest equipment and services based on Google machine learning technology, with a network of ADT installation, service and professional monitoring for creating a “smarter home” and integrated experience for […]

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

The GREENSTONE restructured obligations of the Creative

At the end of 2015 between UniCredit Leasing and GREENSTONE group was signed an agreement for more than $ 1.5 million. According to the agreement, The GREENSTONE will fulfill the  obligations of Creative  with respect to leasing trucks, agricultural vehicles and passenger cars. The agreement with UniCredit Leasing involves the renewal of the lease and […]

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

Three ideas for your business: what it is worth paying attention to

The editorial office of our magazine has already repeatedly mentioned a subject of investments in the publications. Even, if you aren’t ready to invest the money in a new  perspective or the existing and stable project, understanding of general tendencies of the market for any entrepreneur now – for a beginner or an experienced person  is the […]

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

“Medikap” company buys a network of medical centers “Medisvit”

Recently  the Antimonopoly Committee of Ukraine (AMCU) has approved the imminent agreement to acquire a network of medical centers “Medisvit” by the private clinic “Medikap”.  Transaction amount and details were not disclosed at the moment. The “Medical Center” Medikap” company is a private medical facility in Odessa, which had an income of $ 65, 596 […]

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

EX.UA sells its domain for $1m

According to Segodnya.ua,  EX.UA has declared  the domain sale  for 1 million dollars in connection with the termination of work since 1st of December 2016.  There is reported on the website: “We notify that the most expensive UANET domain is sold. The EX.UA domain price is  1 million dollars. 100% of proceeds will be spent for […]

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

Ferrari officially separated from the Fiat Chrysler

The head of Fiat Chrysler officially announced  about the separation of Ferrari  on January, 4, 2016, during the  entering the Milan stock exchange. For the first time in 47 years Ferrari gained its independence,  showing up as a separate from the Fiat Chrysler company. Head of Fiat Chrysler said in an interview that Ferrari had […]

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

The man, who founded the Kyivstar, now owns operator Giraffe

The ex-president and founder of the largest mobile operator Kyivstar Igor Litovchenko in Ukraine became the owner of the Wireless telecom provider SmartCommunications (TM Giraffe). Ukrainian edition Liga.net informed about this, referring to the State Register of natural persons-entrepreneurs and legal entities. According to official figures, Igor Lytovchenko is the owner of the Cyprus offshore Magnilda Holdings Ltd., which owns Giraffe. As said the […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com