Valeant gives Pershing Square seat on its board

(Reuters) – Embattled Valeant Pharmaceuticals International Inc <VRX.N> <VRX.TO> said on Wednesday it has added a representative from shareholder Pershing Square Capital Management to its board of directors as well as two other new directors.
Pershing Square, run by activist investor Bill Ackman, bought a stake in Valeant last year when the drugmaker’s shares were on the rise. They have fallen 68 percent since.
Last fall, the company became the target of two U.S. state i