Valeant Pharmaceutical Chief Is Hospitalized With Pneumonia -- Can He Afford The Drugs He Needs?

[TexasTowelie]

J. Michael Pearson, the embattled chief executive of Valeant Pharmaceuticals International, has been admitted to the hospital for severe pneumonia, a spokeswoman for the company confirmed on Friday.

The spokeswoman, Laurie W. Little, declined to provide further details. She said that out of respect for the privacy of Mr. Pearson and his family, the company would update his condition only as appropriate. “We wish him a speedy recovery and look forward to him returning to work when he is feeling better,” Ms. Little said in an email.

Mr. Pearson, 56, has been struggling to reassure investors about the future of Valeant, as the company comes under fire for its drug pricing and distribution policies. Valeant’s strategy of acquiring old drugs and sharply raising their prices, often by several hundred percent, has attracted attention from Congress.

It also faces scrutiny for its secret relationship with Philidor Rx Services, a mail-order pharmacy that dispensed some of Valeant’s expensive dermatology drugs and took care of getting them reimbursed by insurance companies. Valeant severed its ties to Philidor in October, after questions were raised about the pharmacy’s practices.

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[Downwinder]

1. He is still employed, so should be insured.

[Enthusiast]

2. Lucky unlucky fella.

[Doctor_J]

4. employer provided insurance is no longer affordable to many

Working people are the ones paying for the obscene profits guaranteed by the ACA. New teachers at my school can, under our healthcare plan, have to pay half of their take home pay in deductibles, co insurance, copays, and premiums.

This guy belongs in prison, and so do those who passed the laws that allow him to get away with this stuff

[djean111]

3. A friend of mine once dated a really really rich guy for a few years.

She said the rich pretty much all "comp" each other for most things.
So maybe this guy will just get a professional courtesy box of life-saving drugs.

[Vinca]

5. Considering his position, he's probably got large stockpiles of cash buried around the world.

I doubt it will be an issue. An average person might consider planning their funeral. That's the problem in this country. If you're rich, everything is rosy. If you aren't, your job is to shovel more money up the ladder and keep none for yourself.