Ackman raises stake in Valeant Pharma

(Reuters) - Bill Ackman's Pershing Square Capital Management raised its stake in Valeant Pharmaceuticals International Inc to 9.9 percent, making it the second largest shareholder in the company.

The hedge fund firm previously held a stake of 5.7 percent in the drug maker.

(Reporting by Shailesh Kuber in Bengaluru; Editing by Anil D'Silva)