Jim Cramer Says Pricing Pressure is the Reason Not to Buy Valeant
Jim Cramer says there are other reasons not to buy Valeant, other than the criminal investigation.
Valeant (VRX) shares remain in focus after a report that the company's former CEO and former CFO are the focus of a criminal investigation related to accounting fraud. But TheStreet's Jim Cramer says the reason not to buy Valeant - and other pharmaceuticals - is the pricing pressure in the industry. Cramer says investors don't know what will happen with the investigation, but the real concern is that the industry is under pressure. He said several other pharma companies are facing pricing pressure, including McKesson (MCK) - Get Report , Amgen (AMGN) - Get Report , Eli Lilly (LLY) - Get Report , Bristol Myers (BMY) - Get Report , and Pfizer (PFE) - Get Report .
