Valeant Pharmaceuticals rallies, up almost 10%

Shares of Valeant Pharmaceuticals International Inc. surged Tuesday, nearing $100 US as the embattled company rebound from the lows they recorded amid concerns about the company’s drug pricing, disclosure and business practices.

 

There was no clear reason for the rally, and volume of 22.8 million shares traded was slightly below the daily average, according to FactSet.  It is suspected that some investors may have been covering their short positions before the calendar year ends.