Heads I win, tails you lose… and then you lose some more. That seems to be the story surrounding Bill Ackman’s disastrous near $4 billion loss in Valeant Pharmaceuticals. Ackman’s pharmaceutical foray is mostly over after his hedge fund Pershing Square dumped all of its Valeant shares in mid-March at $11 apiece, or an over 90% loss, cementing one of Wall Street’s biggest-ever investment …
Two groups sued Valeant Pharmaceuticals International Inc. in a proposed class-action lawsuit Monday, claiming the company’s relationship with specialty mail-order pharmacy Philidor Rx Services was illegal and allowed Valeant to overcharge and wrongly charge for prescription drugs, in violation of the Racketeer Influenced and Corrupt Organizations Act. Much of the lawsuit focuses on the …
Valeant Pharmaceuticals International, Inc. (NYSE:VRX) was amid the mix trends movers as shares knock down -1.88% to $30.25. Two groups filed a suit Valeant Pharmaceuticals International Inc. in a proposed class-action court case Monday, claiming the firm’s relationship with specialty mail-order pharmacy Philidor Rx Services was illegal and allowed Valeant to overcharge and wrongly charge for …
The pharmaceutical company allegedly shielded their branded drugs from generic competition and inflated their revenues using a fraudulent scheme. T. Rowe Price also declined to comment. The lawsuit points to Valeant’s alleged decisions to massively increase prices of so-called “orphan drugs” to treat rare medical conditions that face little or no competition and “back door” efforts to receive …
Valeant Pharmaceuticals International Inc. refilled patients’ prescriptions without their permission and steered them to more expensive drugs in order to boost sales and profits, according to a lawsuit that sheds new light on the drug company’s secret operations. T. Rowe Price Group Inc. sued Valeant and its top executives, using information from former employees to back its claims that the …
A Vancouver Island-based lawsuit against the cold remedy Cold-Fx is a lawyer-manufactured action in search of a victim and not worthy of class-action certification. Or at least that was the argument advanced by lawyers for the drug giant Valeant Pharmaceuticals earlier this month in a New Westminster courtroom. To be certified, an applicant must show the existence of a…
The makers of Cold-fX are in court fighting allegations they ignored their own research and misled consumers about the short-term effectiveness of the popular cold and flu remedy. Valeant Pharmaceuticals was in British Columbia Supreme Court on Monday, opposing an application to grant the lawsuit class-action status. Vancouver Island resident Don Harrison launched a claim in 2012 against …
A Vancouver lawyer who’s filed a class-action lawsuit against the makers of Cold-FX, says manufacturers knew the product wasn’t more effective than placebos and withheld research that came to that conclusion. John Green has filed lawsuits in British Columbia and Saskatchewan – if the case is approved in Saskatchewan, it could have nationwide implications. He says that if the cases succeed, in a …