The deal should offset any loses after Valeant cut ties with Philidor Rx Services – a specialty pharmacy that helped doctors and patients get access to Valeant drugs even after insurers declined to cover them.
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Ball-by-ball updates from the first Test in Durban
South Africa captain Hashim Amla won the toss and asked England to bat in the first test at Kingsmead on Saturday. We want to start really well, especially after our series in India, which didn’t go too well.
Shares of Valeant Pharmaceuticals Intl (NYSE:VRX) traded up 6.55% on Monday, hitting $116.77.
Dirk Nowitzki passes Shaq for sixth on all-time scoring list
Dirk Nowitzki was running through the laundry list of things working against him ever becoming the NBA’s sixth-best scorer. It was easy to fold up our tent and not compete, but we came out in the second half and came after them.
Valeant shares have slid the last three months more than 53% through the close of business on Tuesday. Analysts expected $3.47 per share and the company’s previous estimate was between $4.00 and $4.20 per share.
Steyn strikes early blow for South Africa
England lost two-nil against Pakistan in the UAE while Amla’s side were humiliated three-nil in a four-match Test series in India. He’s disappointed but with the strength in depth we’ve got in this group it’s not a hammer blow to us”.
For fiscal 2016, the company anticipates that revenue will range between $12.5 billion and $12.7 billion, while adjusted per-share earnings will be between $13.25 and $13.75.
“Next year, we’ll be about a $13 billion company”.
Pearson, during his “Squawk Box” appearance on Tuesday, in reference to questions about the propriety of Philidor’s business practices, said, “I’ll say it again, there’s been no proof that these allegations are true”.
8 Beleaguered drugmaker Valeant Pharmaceuticals Int’l (NYSE:VRX) inked a deal with Walgreens Boots Alliance (NASDAQ:WBA) to sell drugs at a discount. Valeant cut prices 10% across the board, and Walgreens and Valeant agreed to distribute more than 30 Valeant products at generic prices where generics are available, which could cut prices 95%.
“We have listened to what the marketplace is saying and we’ve taken positive steps to respond”, said Pearson in a statement.
“Why people challenge what we’re doing is we do things unconventionally”, he said.
The company’s partnership with Philidor became a financial liability in October when short-seller Andrew Left’s Citron Research issued a report that accused Valeant of creating “phantom accounts” as part of what he alleged was a “fraud to create invoices to deceive the auditors and book revenue”. “So that’s what we’re going to do”, Pearson said Wednesday. Some of the documents Cummings and the oversight committee want to see include an update on the ad hoc committee that was formed by Valeant to investigate its relationship with Philidor.
Federal prosecutors have subpoenaed documents tied to Valeant’s drug pricing and other practices ahead of a presidential election in which the soaring price of prescription medicines has become a top political issue and the chief health concern of many Americans.
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The company faces several U.S. investigations, including at a committee of the U.S. House of Representatives that will be holding a hearing in the new year on increasing prices for medication.
