Markets Magazine
How One Firm Serenely Watched Valeant’s Drop From the Sidelines
ESG analysis helped Domini shed the drugmaker from its portfolio when the company’s focus shifted.
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Valeant Pharmaceuticals has taken investors on a wild ride. The drugmaker’s stock price climbed tenfold, to a high of $262 a share last August, before cratering to about $24 on June 8, bringing billions of dollars of losses to investors including storied hedge funders Bill Ackman and John Paulson.
Watching the crash serenely from the sidelines was Tessie Petion, vice president for responsible investment research at Domini Social Investments.