Shares of the specialty pharmaceutical company Valeant Pharmaceuticals (VRX) were slightly higher on Wednesday after its CEO Joe Papa looked to reassure investors that the troubled company is moving in the right direction. TheStreet's Sarah Pringle, who is at the at 35th annual J.P. Morgan Healthcare Conference, says Papa wants to focus on "growing assets in specialty-driven markets including dermatology, eye care and gastrointestinal."
Papa also says the company is gaining momentum in the cosmetic lens segment in Japan, and will continue streamlining its portfolio. On Tuesday, Valeant announced an all-cash deal of $1.3 billion to sell its skincare assets to L'Oreal (OR) . The company has already received $2.35 billion in asset sale proceeds so far.