This paper presents a clinical study from 2010 to 2018 of Valeant Pharmaceuticals International Inc., a multinational pharmaceutical company headquartered in Canada. Among the failures observed in the company’s governance practices, we identify excessive compensation of officers and directors indicating a problem of entrenchment, a shareholder associated with value destruction, and the revelation of questionable accounting and tax practices. The resulting dramatic rise and sudden fall in the share price of Valeant Pharmaceuticals International Inc. illustrates the limits of traditional governance. Given the public health issues, governance in the pharmaceutical sector should therefore be stakeholder-oriented.
- shareholder governance
- executive compensation
- pharmaceutical sector
- institutional shareholder
- media
Mots-clés éditeurs : executive compensation, media, pharmaceutical sector, institutional shareholder, shareholder governance
Mise en ligne 02/17/2023
https://doi.org/10.3917/g2000.394.0089
