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Valeant under criminal investigation: WSJ
Source: Reuters
World | Wed Aug 10, 2016 7:30pm EDT
Valeant under criminal investigation: WSJ
U.S. federal prosecutors are investigating whether drugmaker Valeant Pharmaceuticals International Inc (VRX.TO) (VRX.N) defrauded insurers by hiding a relationship with pharmacy Philidor that boosted sales of its drugs, the Wall Street Journal reported, citing people familiar with the matter.
Valeant's U.S. listed shares were down 12.2 percent at $24 in extended trading on Wednesday.
Neither Valeant nor the U.S. attorney's office in Manhattan were immediately available for comment.
Lawyers in the U.S. attorney's office in Manhattan are pursuing a theory that Valeant and Philidor Rx Services LLC allegedly defrauded insurers by concealing their ties, the WSJ said.
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Valeant under criminal investigation: WSJ
U.S. federal prosecutors are investigating whether drugmaker Valeant Pharmaceuticals International Inc (VRX.TO) (VRX.N) defrauded insurers by hiding a relationship with pharmacy Philidor that boosted sales of its drugs, the Wall Street Journal reported, citing people familiar with the matter.
Valeant's U.S. listed shares were down 12.2 percent at $24 in extended trading on Wednesday.
Neither Valeant nor the U.S. attorney's office in Manhattan were immediately available for comment.
Lawyers in the U.S. attorney's office in Manhattan are pursuing a theory that Valeant and Philidor Rx Services LLC allegedly defrauded insurers by concealing their ties, the WSJ said.
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Read more: http://www.reuters.com/article/us-valeant-investigation-idUSKCN10L2RG
Related: Valeant Under Criminal Investigation (Wall Street Journal)
