Valeant Pharmaceuticals Confirms Appropriateness Of Accounting, Appoints Ad Hoc Board Committee To Review Philidor

Valeant Pharma (VRX) Halts the Bloodletting Following Conference Call

October 26, 2015 1:03 PM EDT

Down 52% from the Sept 21 Hillary Clinton tweet, 42% from the initial Sept 28 Citron Research short report, and 22% from Citron's Oct 21 'smoking gun' report, the last month or so has been a low point in Valeant Pharmaceuticals' (NYSE: VRX) corporate history. Today bears and bulls are battling hard as the company attempted to address concerns raised by short sellers in a conference call earlier. The focus of the call was on the company's ownership and relationship with specialty pharmacies, with Philidor front and center. The company also appointed an Ad Hoc committee to review... More

Mizuho Provides Quick Thoughts on Valeant (VRX) Slides/Call

October 26, 2015 9:14 AM EDT

Mizuho Securities analyst Irina Koffler provided the following quick thought on Valeant Pharmaceuticals (NYSE: VRX) slides and call:

· The Valeant slide deck delves into details of its specialty pharmacy operations: The company went to great length to review operations of Philidor and mechanics of the business and these details are applicable to other companies with specialty pharmacy distribution, in our view. We believe that the clarity should benefit the sector overall, and most specifically, companies like Horizon (HZNP) which utilize less complex... More

Valeant Pharma (VRX) says ad hoc committee will review issues brought up in today's WSJ

October 26, 2015 8:43 AM EDT

Valeant Pharma (NYSE: VRX) says ad hoc committee will review issues brought up in today's WSJ.

... More

Valeant Pharma (VRX) Regains Some Early Losses as Conference Call Starts

October 26, 2015 8:09 AM EDT

Valeant Pharma (NYSE: VRX) shares have firmed in the early minutes of today's conference call. Shares are down 3% after trading down over 10% earlier.

... More

Valeant Pharma (VRX) Files Presentation on Philidor; Says No Evidence of Illegal Activity To-Date

October 26, 2015 7:28 AM EDT

Valeant Pharma (NYSE: VRX) filed a presentation related to its conference call on Philidor today. The presentation is embedded below and the following are some highlights from the document:

Says it has no right to remove CEO and management of... More

Valeant Pharma (VRX) Releases Slides Ahead of Investor Conference Call

October 26, 2015 7:28 AM EDT

Valeant Pharma (NYSE: VRX) released the slides for its upcoming 8AM conference to address concerns about its relationship an use of specialty pharmacies.

The slides don't appear to address today's new revelation from the... More

WSJ Highlights More 'Smoke' at Valeant Pharma (VRX) Ahead of Conference Call

October 26, 2015 6:39 AM EDT

Valeant Pharma (NYSE: VRX) is under pressure again in pre-open trading Monday despite a new statement from the company that it "confirmed the appropriateness of the company's related revenue recognition and accounting treatment." The driving factor for today's downside is an Wall Street Journal article which... More

Valeant Pharma (VRX) Says Philidor Accounting is Appropriate

October 26, 2015 6:16 AM EDT

Valeant Pharma (NYSE: VRX) announced that its Audit and Risk Committee and the full Board of Directors have reviewed the company's accounting for its Philidor arrangement and have confirmed the appropriateness of the company's related revenue recognition and accounting treatment.

Based on its review conducted to date, Valeant also believes that the company is in compliance with applicable law. In light of the recent allegations made regarding Philidor, however, the Board of Directors has decided to establish an ad hoc committee of the board to review allegations related to the company's business relationship... More