Nearly two weeks after Valeant(VRX) cut ties with specialty pharmacy Philidor, which it owned but didn’t own, when we were told that “The [ad hoc] committee will be meeting promptly to determine the work plan for its review in consultation with counsel.”, the company has decided to host another conference call today. the Company will provide a business… Read More »
Minutes after we wrote about the curious absence of Valeant’s ad hoc committee from this morning’s press release severing ties with Philidor, Valeant(VRX) issued a second press release which confirms that the committee has not yet done anything. the ad hoc committee appointed by Valeant’s board of directors has appointed former Deputy Attorney General of the United States Mark Filip… Read More »
Nearly two weeks after serious allegations emerged about Philidor and Valeant’s(VRX) relationship with it, and five days after a conference call in which Valeant defended the indefensible, Valeant has finally cut ties with Philidor and Philidor will cease its operations. We had urged this as the only rational action for Valeant, and were surprised when Valeant instead spent… Read More »
Dear Concerned Shareholders- We are pleased to inform you that our actions regarding the henhouse have been “fully compliant with the law. However, other issues have been raised publicly about [our henhouse] business practices, and it is appropriate that they be fully reviewed. This decision to create an ad hoc committee of [foxes], which I fully support, will help… Read More »
It’s been a long week for Valeant(VRX), a longer weekend, and with the fresh allegations published tonight in the Wall Street Journal, it’s going to be a long night. The week began with Valeant changing its business model completely, putatively in the face of pressure on raising prices on “mispriced” drugs. In reality, a business model based on… Read More »