Valeant CEO: Health-Care Sector A 'Bit Of a Bubble'

Recent M&A activity within the health care sector has led some investors to believe the industry is in a "bubble." Investors who shared that sentiment were joined by

's Chief Executive Officer Michael Pearson who described the recent onslaught of acquisition activity a "bit of a bubble." "There's a deal frenzy going on," Pearson said at Thursday's Bloomberg Canada Economic Series in Toronto. "Some of these acquisitions are not going to work. In terms of prices being paid for acquisitions, some of them make sense and some of them don't make sense." Bloomberg noted that the executive's comments come at a time when the company is in talks to acquire Amoun Pharmaceutical Co., an Egyptian based drugmaker. Valeant made headlines in 2014 when it was involved in an unsuccessful hostile takeover to acquire

Allergan ending up selling itself to

in March 2015, forcing Valeant to look elsewhere. Valeant ended up acquiring

in February 2015 after it was apparent an acquisition of Allergan isn't likely to happen. Valeant was able to beat out rival

who was also interested in acquiring Salix. Bloomberg continued that Valeant is eyeing the Asian market and is open to further acquisitions. "We like Asia," Valeant's Chief Executive also said. "Business is doing well. There's a huge unmet need and incomes are going to continue to rise. We have been and we will continue to make acquisitions."