William M. Wells has resigned as Chairman of the Board of Valeant Pharmaceuticals and has been replaced by Robert A. Ingram. Valeant subsidiary Biovail is co-devloping the Staccato loxapine inhaler with Alexza Pharmaceuticals. The FDA issued a complete response letter for Staccato loxapine in October 2010. The announcement comes less than two weeks after Elan announced that Robert A. Ingram would chair its board. Read the Elan press release. Read the Valeant press release.
