Bausch Health Companies Inc (BHC)

[badbadbad]

Valeant Pharmaceutical’s VRX, -1.55% stock has fallen from a peak of $279 in 2015 to around $11 this month.

Ackman hadn’t previously apologized — at least, in such direct terms — for the big loss. The hit came from holding what was eventually nearly a 10% stake in the drugmaker, which was fighting charges of accounting fraud and price gouging, among other issues.

The hedge fund manager first accelerated Pershing’s investment when Valeant’s stock was priced near $196 a share in early 2015; by the time he sold it this month, it was worth $11 a share.