Valeant Pharmaceuticals International Inc. late Thursday said it is forming a new committee that will oversee how the company’s drugs are priced. Chief Executive Joseph Papa will lead the group that will include Valeant staff, doctors and scientists. The drug company also admitted that it has made mistakes in the past on how it priced its products and the committee is aimed at preventing a repeat of the same errors. Valeant shares remained weak in after hours, falling 2%, following a decline of 2.8% in the regular session. The stock is down 66% amid accounting problems dating back to 2014. Valeant’s woes have also weighed on Bill Ackman’s Pershing Square Holdings Ltd. which has a sizable stake in the company. The hedge fund is down 18% year to date at the end of April.
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