Valeant to set up committee to review fraud allegations
Canadian drugmaker Valeant Pharmaceuticals International (NYSE: VRX) said it will set up a committee to review recent allegations related to the company’s relationship with the specialty pharmacy distributor Philidor.
The company said the review so far indicates Valeant is in compliance with applicable law.
Michael Pearson, chief executive of Valeant, said: "As we have said previously, our accounting with respect to the company's Philidor arrangements is fully compliant with the law. However, other issues have been raised publicly about Philidor's business practices, and it is appropriate that they be fully reviewed."
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