A report from Bloomberg cited Valeant spokeswoman Laurie Little, who said Friday that the 56-year-old Pearson was admitted to hospital "recently" and is currently undergoing treatment.
"We wish him a speedy recovery and look forward to him returning to work when he is feeling better," said Little. "We will be respecting Mike and his family's privacy during this time and will provide further details on his condition as appropriate." She declined to provide further details on Pearson's hospitalization.
Pearson was in the news just last week, as he tried to convince investors to overlook any issues that had resulted in Valeant losing 57 percent of its value from its August peak, and focus on the Quebec firm's products that can outperform Wall Street expectations. He was also quoted as saying that Valeant will be providing more transparent information regarding the company's business, including sales data for its 30 best-selling drugs.
Despite those statements, many observed that Pearson was more than a bit defensive when he talked about Valeant's strategy when speaking to investors; the company's business model has gotten criticism from regulators and investors alike for its frequent price hikes, acquisitions of smaller companies, and its use of mail-order pharmacies.
On another interesting note, hedge funds had flocked to Valeant earlier in the year, but have suffered together with the company as its stock plummeted. Most notably, William Ackman's Pershing Square Capital Management hedge fund lost over 17 percent through November.
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