Valeant has appointed Jeffrey Ubben, CEO of ValueAct Capital, as a member of its board of directors.
Ubben joins at a crucial time for Valeant as the company tries to take over Allergan, the marketer of Botox and other aesthetic and health products.
The company will benefit from Ubben’s rich business experience, which includes founding the investment management firm ValueAct Capital.
Ubben commented on the recent attempts to acquire Allergan, which have prompted a backlash, with Allergan questioning Valeant’s business model.
“Valeant has become significantly undervalued on a standalone basis due to recent unjustified attacks on the company,” said Ubben. “We are strongly supportive of the Allergan-Valeant combination in light of their perfect strategic fit and the potential to create enormous shareholder value for both companies.”