Valeant to rely less on pricing strategy
Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX) CEO Michael Pearson said on the company's 3Q15 earnings call Monday that it is likely the company "will pursue fewer, if any, transactions that are focused on mispriced products." The strategic decision comes amid a backlash against its practice of increasing prices on newly acquired drugs.
Valeant is under investigation over its drug pricing and distribution processes. Last week, the company said it received subpoenas from the U.S. Attorney's Offices for the District of Massachusetts and the Southern District of New York, which requested information concerning its patient assistance programs, financial support for patients, distribution schemes, communications with CMS and pricing decisions (see BioCentury Extra, Oct. 15). ...