Valeant Pharmaceuticals (VRX) Proposes Class-Action Lawsuit on Relationship With Specialty Mail-Order Pharmacy

Valeant pharmaceutical building

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 prescription drugs, in infringement of the Racketeer Influenced and Corrupt Organizations Act.

Much of the court case focuses on the Philidor relationship, which it stated enabled improper or illegal pharmaceutical conduct that facilitated the payment of “exorbitant prices” for Valeant VRX, -1.88% drugs. The groups, a hotel workers employee-benefits fund and a labor union representing New York City police officers, say that Valeant’s overcharging and wrongly charging for prescription drugs harmed them. The stock outstanding shares were 344.43. Having a prescribed look on price to sales ratio, that was 1.01.

 

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Source: www.senecaglobe.com www.senecaglobe.com

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