Former Valeant Pharmaceuticals CEO Michael Pearson has sold nearly $100 million of the company's stock in the past two weeks, according to securities filings obtained by Wall Street Journal.
Mr. Pearson sold 288,441 shares on June 30 for $5.8 million, 411,601 shares on July 5 for $8.2 million and just over 4 million shares on July 1 for $82.9 million, according to the report.
The company's stock prices have plunged more than 90 percent since August 2015, when investigations into Valeant's drug pricing and financial practices raised significant concerns among regulators.
Valeant moved to replace Mr. Pearson as CEO in March. Under his employment contract, Mr. Pearson is required to hold at least 1 million company shares for two years following his termination.