Over the past five years, Valeant Pharmacueticals (BHC -1.74%) stock is up 856%, absolutely smashing the returns delivered by the market. And the company has recently made waves by teaming up with activist investor Bill Ackman of Pershing Square to take over Allergan (NYSE: AGN), the specialty pharma company famous for Botox. 

In the following video, Motley Fool analysts Michael Douglass and Brendan Mathews discuss the three things investors should be watching for in Valeant. Brendan notes that investors should keep a close eye on Valeant's organic growth, projected cash earnings per share, and achievement of synergies from past acquisitions, especially the Bausch + Lomb purchase.