Valeant Pharmaceuticals Intl Inc (NYSE:VRX) is taking a beating today after news hit the wires that they were under a U.S. criminal probe into their Philidor ties. Prosecutors are looking into whether or not the company hid its ties to the now bankrupt Philidor and thus defrauded insurers. Sounds scary doesn't it? Many investors are selling on the news but honestly, smart investors knew this was coming. To me it is nothing but old news and will get hashed out. Maybe a fine, maybe the old CEO goes jail but Valeant should continue to recover. I look at this drop like a gift, if it reaches a key buy level I have analyzed I will be a buyer myself. Just yesterday the stock surged over 25% on earnings that gave investors relief. Their numbers definitely show a recovery is underway. So what is the buy level? If the stock pulls back to $22.50, to me it is a buy.

By Pro-Trader