Michael Pearson is to step down as  chairman of the board and chief executive officer of Valeant Pharmaceuticals International Inc.   The company has appointed activist investor William Ackman to its board. Photograph: Reuters

As recently as last summer, J Michael Pearson styled himself as a brash and bold executive with a new way of thriving in pharmaceuticals: buying othe(...)

Botox is one of Allergan’s products. Photograph: Bloomberg

On Wall Street, financial engineering masquerades as vision. When it works, you get to be called the Oracle of somewhere or other. If it works for onl(...)