Valeant faces crim­i­nal probe

The Myanmar Times - - International Business -

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.” –

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