Valeant faces criminal probe
US criminal prosecutors could bring fraud charges in the coming weeks against Valeant Pharmaceuticals International and two former senior executives, Bloomberg News reported.
The Department of Justice probe concerns Valeant’s hidden ties with Philidor RX Services, a specialty pharmacy company that Valeant secretly controlled.
Investigators are also focusing on former chief executive J. Michael Pearson and former chief financial officer Howard Schiller, the report said.
Bloomberg described the case as “fluid” and said one possibility was that the government would settle with the company and take action later against individuals.
Valeant said it was cooperating with the DOJ probe and that it “cannot comment on or speculate about the possible course of any ongoing investigation.” –