There’s no doubt about it — Joseph Papa took a huge risk and may have made a huge mistake. At the pinnacle of a firestorm of negative headlines and government investigations into Valeant Pharmaceuticals, Papa decided to take the helm of the embattled company, leaving behind a nearly 10-year successful career as chairman and CEO of OTC and generics drugmaker Perrigo.
It’s a story that has been quietly unfolding since Papa succeeded Michael Pearson in May 2016. But a little quiet is something this company likely relishes these days. For now, free of the media’s spotlight, Papa and his staff can continue with what he refers to as “the turnaround opportunity of a lifetime.”