Business Case 11 Big Pharma, Big Business, and Accounting Foundations A few years ago, Valeant Pharmaceuticals International Inc. was the pride and joy of the Canadian pharmaceutical industry. At the time, it was the nation's most valuable company by stock market value. But in 2018 , the very same company had lost more than 95% of its stock market value before slightly rebounding and stabilizing. The company had let go of its CEO, and it had been rebranded as Bausch Health Companies Inc. So, what happened? Whether you are a pharmaceutical health care company, a retailer, a manufacturer, or a momand-pop shop on Main Street, there are fundamental business, accounting, and ethical practices that must be respected. Let's go back and document the rise, fall, and future of this company before examining where the company stood in 2021. Q1. Describe some of the fundamental accounting metrics discussed in this case and explain their importance as they relate to the company's market valuation. A1. Q2. How did some of the questionable practices impact the company's bottom line and its strategic direction during the past few years? A2. Q3. Find the company's most recent annual report (look on SEDAR.com). Compare the results for the past three years and analyze the trends. Are they positive or negative? Explain. A3. Q4. Conduct some research and find articles discussing Valeant/Bausch Health Companies Inc. Has the company bought or sold any additional product assets (acquisition or divestment)? A4