Valeant (VRX) : Ackman exit fails to sway valuation expert

Valeant Pharmaceuticals International Inc. has enough value left for Aswath Damodaran to maintain a stake. The New York University professor and author of four books about company valuation disclosed in a blog posting Thursday that he still owns shares bought last year, before Valeant dropped to its lowest price since 2009 and investor Bill Ackman sold his entire holding at a loss. Damodaran estimated the drugmaker’s value as a going concern at $13.68 a share, 26 percent higher than Thursday’s close -- and 35 percent lower than his average cost of about $21.