“Your refusal to provide any documents or witnesses is obstructing this congressional investigation and preventing a full understanding of your company’s suspect actions”, the letter states.
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United Nations closes the books on decade-long nuclear probe of Iran
Most individual and global sanctions imposed on Iran will be lifted once the IAEA confirms Iran’s compliance. Questions continue to be raised about Iran’s weapons programs.
Yesterday, Valeant signed new fulfillment agreements with Walgreens Boots Alliance (NASDAQ:WBA), which will be effective in the first quarter of 2016.
Balmy temperatures to remain through Christmas weekend
The combination of this super El Niño and climate change is said to be causing record breaking temperatures. The National Weather Service said temperature readings at Central Park reached 66 degrees at 12:31 a.m.
In recent months, Valeant caused a furor by sharply increasing prices for heart drugs shortly after buying them from Marathon Pharmaceuticals, a small drug developer from suburban Chicago. By teaming up with a trusted pharmacy like Walgreens, Valeant is sure to ease the minds of its investors.
No Indictment in Jail Death of Sandra Bland, Arrest Charges Not Decided
Encinia was placed on desk duty after the DPS said he violated traffic stop procedures and the department’s courtesy policy. According to the lawsuit, sheriffs deputies and guards failed to monitor and protect Bland while she was in police custody.
Its revenue estimate for the quarter is now between US$2.7 billion and US$2.8 billion, down from US$3.25 billion and $3.45 billion. Valeant also chopped its outlook for the current quarter to between $2.55 and $2.65 per share, from $4.00 to $4.20.
Valeant on Wednesday lowered its per-share 2015 profit expectations to $10.23 to $10.33, from between $11.67 and $11.87 – well short of the $11.11 that Wall Street had projected. It said that was about US$500 million lower than previously forecast because of the costs of setting up the Walgreens deal, about US$75 million in retention payments it has planned for 700 employees, planned price cuts and restructuring charges. It will drop wholesale prices for branded prescription-based skin and eye-care products by 10 per cent.
The two companies have entered a separate agreement, under which Valeant will distribute more than 30 branded products that have generics available at generic prices.
Valeant announced that the lower pricing for its branded products, which all patients can purchase beginning the second six months of 2016, would be between 5% and 95% or on average a 50% decrease.
Investors will be listening for more details on the deal with Walgreens, the largest US drug store chain, and Valeant’s other plans on Wednesday, when it hosts an investor webcast to update its financial forecast and discuss business operations and research.
Valeant Pharmaceuticals Intl (NYSE:VRX) last announced its quarterly earnings data on Monday, October 19th.
The partnership with Walgreens is a sign that Valeant is moving forward and leaving its relationship with Philidor behind. In October, Valeant ended its relationship with Philidor after a wave of complaints accusing the distributor of convincing insurers to pay for Valeant drugs instead of cheaper generic alternatives.
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“Investors were looking for a definitive track forward for Valeant (in a post-Philidor world) with its pharmacy and distribution strategy”, Umer Raffat, an analyst at Evercore ISI, wrote in a note to clients.
