Valeant's former CEO may remain as consultant through 2017

May 31, 2016 1:18 PM

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Valeant's former CEO may remain as consultant through 2017

NEW YORK Michael Pearson, the former chief executive officer of Valeant Pharmaceuticals International (VRX.TO), has signed a consulting agreement with the drugmaker that will run through 2017 and pay him hundreds of thousands of dollars, according to the separation agreement filed with regulators.

Pearson, who left Valeant on May 2 after a year in which it had drawn scrutiny for its sharp drug price increases, financial relationship with a specialty pharmacy and accounting practices, can earn $83,333 a month this year as a consultant.

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