Joel Greenblatt’s Magic Formula Says No to Two Pharma Giants: Valeant Pharmaceuticals Intl Inc (VRX), Gilead Sciences, Inc. (GILD)

Joel Greenblatt’s Magic Formula Says No to Two Pharma Giants: Valeant Pharmaceuticals Intl Inc (VRX), Gilead Sciences, Inc. (GILD)

Joel Greenblatt, the founder of the $6.8 billion Gotham Asset Management fund, has signaled a cautious sentiment towards two-mega cap pharma stocks. In the third quarter, Greenblatt slashed the fund’s holding of both Valeant Pharmaceuticals Intl Inc (NYSE:VRX) and Gilead Sciences, Inc. (NASDAQ:GILD). His moves are closely followed by traders all over the world, keen for an insight into how one…

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