"If you were devising a company, which was in the dark side, Valeant would be it," Aswath Damodaran, a professor of finance at New York University's Stern School of Business, told CNBC on Thursday. Still, the investor recently bought shares of the company, which has been under fire recently.
Popularly known as the "dean of valuation," Damodaran told CNBC that he recently purchased the stock at $32 a share, but he believes its true value $43 a share, 34 percent higher.
"In every conceivable way this looks like a bad company, but at the right price, even a bad company could be a good investment," he said in an interview with "Closing Bell." Valeant's problems include losing credibility with investors, delaying its financial filings and have a board of directors in "flux," he said.