Valeant Pharmaceuticals Intl Inc. (TSX:VRX)(NYSE:VRX) continues to climb, increasing another 2.5% on Wednesday amid increased investor optimism about a potential turnaround for the once-dominant Canadian pharmaceutical juggernaut.
The pharmaceuticals giant has been on a tear of late, nearly doubling since mid-April when shares dipped below $12 on increased concerns surrounding the company's debt level and its ability to generate growth or any sort of profitability moving forward.
While the company still has a long way to go to convince long-term investors that Valeant is a safe long-term growth play, the market appears to be smiling on Valeant's ability to calm some of the concerns, offering hints as to Valeant's ability to execute on its promises moving forward.
The strength of Valeant's management team is something the company will continue to rely on as the business continues to move toward a debt repayment strategy and eventual transition toward long-term R&D investment and organic growth.
While Valeant's previous management team is largely to blame for the negative press and turmoil resulting from increased scrutiny surrounding the company's acquisition and growth strategy, the current management team appears to be doing a very good job in delivering on the new strategy, on a fixed (and some would say extremely bold) timeline.
Having a new management team with a renewed vision and the audacity to move forward toward meeting and exceeding goals in the near and long-term, investors may now be interested in taking a look at this company, given it is now trading at a discount to its all-time high of more than 90%.
