Reuters Valeant CEO Joe Papa Apparently Congressional hearings don’t mean anything to Valeant Pharmaceuticals. The beleaguered company, which has been under intense scrutiny for its drug price hikes since 2015, again raised prices for over 50 products last week, according to data compiled by Wells Fargo. From Wells Fargo analyst David Maris: “On Friday, January […]

The FDA has approved a generic version of Valeant Pharmaceuticals’ heart drug Nitropress, according to its website, and shares of Valeant are down almost 5% on the news. “This news comes ahead of our expectations, as we had modeled this as a mid-2017 event. Nitropress is, according to Valeant’s last earnings release, Valeant’s 7th largest product […]

YouTube Andy Davenport, CEO of Philidor Lawyers representing Andy Davenport and Gary Tanner, the two executives arrested Thursday and charged with “engaging in a multimillion-dollar fraud and kickback scheme,” said the two will prove their innocence.  The lawyer representing Andy Davenport — the CEO of Philidor, the secret pharmacy whose discovery led to a crisis at Valeant Pharmaceuticals — said […]

Reuters/Andrew Kelly Prosecutors in New York have charged two executives over a kickback scheme meant to inflate the value of a specialty pharmacy before it was sold to Valeant Pharmaceuticals. This isn’t over yet, but the charges filed so far are putting the focus on a man who worked for both Valeant and Philidor, the specialty pharmacy […]

Reuters/Andrew Kelly Prosecutors in New York have charged two executives over a kickback scheme meant to inflate the value of a specialty pharmacy before it was sold to Valeant Pharmaceuticals. This isn’t over yet, but the charges filed so far are putting the focus on a man who worked for both Valeant and Philidor, the specialty pharmacy […]

Thomson Reuters Michael Pearson, chairman of the board and chief executive officer of Valeant Pharmaceuticals International Inc., poses following their annual general meeting in Laval Guys, there’s something missing here. Two former executives — from Valeant Pharmaceuticals and its now-defunct pharmacy Philidor —  have been arrested and charged with committing fraud to personally enrich themselves. We’re […]

Reuters Former Valeant CEO Michael Pearson (L-R), former CFO Howard Schiller and Pershing Square Capital Management CEO Bill Ackman testify about price spikes in decades-old pharmaceuticals before a hearing of the U.S. Senate Special Committee on Aging on Capitol Hill in Washington, U.S. April 27, 2016. Philidor is dead, long live Philidor. Last year the […]

Reuters Joe Papa, CEO of Valeant When Valeant Pharmaceuticals’ secret relationship with a pharmacy that sold its drugs directly to consumers was exposed last year, the company first tried to downplay its importance. It hadn’t told investors about the pharmacy, called Philidor, which Valeant had an option to acquire and which accounted for at least […]

AP The investors behind Sprout Pharmaceuticals, the drugmaker that developed what came to be known as “female Viagra” are suing Valeant Pharmaceuticals for failing to commercialize the drug. Valeant acquired Sprout for $ 1 billion in August 2015. The deal was struck right after Sprout won approval for Addyi, which intends to treat women with chronically low sex drives, […]

Valeant Pharmaceuticals may sell its eye surgery equipment business, according to Dow Jones. Talks are still in their preliminary stages, but the business could sell for as much as $ 2.5 billion. On Tuesday the company announced that it is in talks to sell one of its core businesses, Salix, to Takeda for $ 10 […]