Activist investor Bill Ackman told CNBC he expected under-fire pharma company Valeant to take just weeks to sort out the issues hammering its share price.
Shares in Valeant Pharmaceuticals plunged more than 18 percent on Monday after the drugmaker revealed it faced a previously undisclosed Securities and Exchange Commission (SEC) investigation.
Valeant had said on Sunday night that it would delay releasing its fourth-quarter earnings, as well as withdrawing its financial guidance and admitting it would not be able to file its annual report to regulators on a form 10-K within a 15-day extension period.
The company also said that chief executive Michael Pearson - on medical leave since December - would return to work immediately.
Speaking exclusively to CNBC on Monday night, Ackman, whose Pershing Square fund holds a stake of about 9 percent in Valeant, said he had spoken to Pearson and was delighted that the CEO was back at work.