Valeant 'cooperating' after learning of Philidor charges

Valeant Pharmaceuticals International (TRX: VRX) has issued a statement after learning that a criminal complaint was filed in relation to Philidor, a specialty pharmacy which is accused of pushing the products of the Canadian drugmaker.

Gary Tanner, a Valeant executive until September 2015, and Andrew Davenport, former Philidor chief executive, have been charged with fraud, the US Department of Justice announced on Thursday.

Valeant’s statement stressed that Mr Davenport had never been employed by the drugmaker, and added: “The counts issued include allegations that the charged parties engaged in actions to defraud Valeant as a company. Valeant continues to cooperate with all relevant authorities in this matter.”