This originally was published on Herb Greenberg's Reality Check.
SAN DIEGO (TheStreet) -- I'm a day late and a dollar short with this one, as I was tied up on other stories Wednesday. But, the most significant thing that came out of Valeant's (VRX) investor call Wednesday, in my opinion, was this comment from CEO Mike Pearson:
"I probably was incorrect in talking about the $150 billion market cap company. That was just more a statement that we are not just going to sit back and do nothing and that we are just like each of the business units as hungry to achieve organic growth and continue to build shareholder value."
Later in the day, at an investment conference, Pearson added:
"And I think we put -- maybe putting the $150 billion number out was a mistake, but I think our investors understood that. It meant that we're not satisfied with where we are. We're going to continue to try to build and drive shareholder value. And if you do that, you're eventually going to have a higher market cap."
They were "incorrect" about discussing the $150 billion market cap? It was a "mistake"?
Taking back what he said now is equally as absurd as the comment was the day he made it. And it wasn't some idle comment that was an afterthought while he was answering some question.
It was part of Person's scripted comments on the Jan. 7 earnings call. Let's roll the tape: