The stock has recovered much of this monring’s lost ground, now off by 4%.
During this morning’s conference call, the fuckers from VRX had a few points worth touching on.
Strategy working with specialty pharmacies is sound
There have been no issues with regards to the accounting or revenue recognition of the business
To date, we have found no evidence of illegal activity at Philidor
We have created an ad-hoc committee of independent directors to review allegations related to the company’s business relationship with Philidor and related matters
The company has been working with outside counsel on these issues
Future options to be considered include: — Exercise our option and acquire Philidor — Sever ties and move to 1 or more new 3rd party specialty pharmacies.
We will continue to pursue tuck-in acquisitions; opportunistic share repurchases and/or debt paydown; large deals are opportunistic.
Reaffirm Q4 guidance and 2016 EBITDA of $7.5B except for one time expenses associated with recent events — Q4 off to a strong start; not anticipating any impact, but it is hard to predict how recent events will impact the business in the short term
(via Briefing.com)
In other words, everything is chill. Relax and quit reading bearshitter sites. Let’s see how public opinion ends up ruling today.
UPDATE: Evercore’s notes
eh, they’re dirty….because almost all corporate execs are dirty. A story of this magnitude is not a work of fiction for shits and giggles. lol