House committee releases memos on Valeant, Turing

Rep. Elijah Cummings (D-Md.), the ranking member of the U.S. House Committee on Oversight and Government Reform, released two memos on Tuesday that said price hikes used by Turing Pharmaceuticals AG (Zug, Switzerland) and Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX) "are not limited to a few 'bad apples,' but are prominent through the industry."

The memos were released ahead of a Thursday committee hearing on prescription drug prices, and the documents summarized in the memos include emails and corporate projections and analyses. ...