Valeant CEO Joe Papa Trades ~$5 Million Of Shares

Valeant Pharmaceuticals Intl Inc (NYSE: VRX) CEO Joseph Papa bought 202,000 shares at $24.48 per share Monday morning. The purchase came after key events last week.

• Tuesday: Reported Q1 Adj. EPS $1.27 vs $1.37 Est., Sales $2.4B vs $2.38B Est.
• Tuesday: Cut FY16 Sales Outlook from $11B-$11.2B to $9.9B-$10.1B vs $10.9B Est., Adj. EPS $8.50-$9.50 to $6.60-$7 vs $8.47 Est.
• Tuesday: Cut FY16 Adj. EBITDA from $5.6B-$5.8B to $4.8B-$4.95B
• Wednesday: S&P said stable rating outlook, financial performance will improve to levels that would suggest higher ratings in the future. Removed from CreditWatch.
• Thursday: Valeant mulled sale of Egyptian drug maker Amoun to accelerate debt reduction.

At time of writing, Valeant traded at $25.14, up 4.14 percent in Monday's pre-market session.