Investors punished Valeant Pharmaceuticals International Inc. on Tuesday, cutting its shares in half after the drugmaker slashed its guidance and said it could be in danger of defaulting on some of its debt.
Shares dropped 51% to $ 33.51, its lowest close since Jan. 5, 2011. As recently as August, shares of the one-time highflier traded above $ 262. The company lost $ 12 billion in market value on Tuesday.
Tuesday's plunge came…
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