Jim Cramer: Valeant Needs a Government Monitor

TheStreet's Jim Cramer said Valeant Pharmaceuticals' (VRX) move to appoint billionaire investor Bill Ackman to the board of directors isn't enough and a government monitor is needed.
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TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer said Valeant Pharmaceuticals' (VRX)  move to appoint billionaire investor Bill Ackman to the board of directors isn't enough and a government monitor is needed. Before you just go in and think Valeant is out of the woods because Ackman is involved, remember, the dermatological business is being challenged aggressively by Allergan (ACT) - Get Report  and the ophthalmology business is also being challenged by Johnson & Johnson (JNJ) - Get Report , so your core lines of business are under a lot of pressure from really well capitalized companies.'

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.