Valeant Pharma (VRX), Retrophin (RTRX) Continue Slump Amid Senate Committee Price Hike Investigation
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Valeant Pharma (VRX) At Lows Into the Close
November 4, 2015 3:43 PM ESTValeant Pharma (NYSE: VRX) is trading near the lows into the close. Shares are down 6% to $92. Today's senate hearing on drug pricing, the 'missing piece' hit piece and reports from Reuters that OptumRx caught on to odd billing at Valeant-linked pharmacy more than a year ago, are all weighting.
... MoreExclusive: U.S. insurer caught on to odd billing at Valeant-linked pharmacy
November 4, 2015 12:25 PM ESTBy Carl O'Donnell, Tim Reid and Caroline Humer
NEW YORK/LOS ANGELES (Reuters) - OptumRx, a leading U.S. pharmacy benefits manager, began to stop payments to a pharmacy closely-linked to Valeant Pharmaceuticals International (NYSE: VRX) more than a year ago after recognizing billing irregularities, former employees at the pharmacy and sources familiar with the matter told Reuters.
Hatboro, Pennsylvania-based Philidor Rx Services persisted in efforts to secure reimbursement for Valeant drug sales even after receiving a cease-and-desist order from OptumRx, one of its largest revenue sources, in September 2014, two sources familiar... More
Icahn Speculation Around Valeant (VRX) Grows Following Interview
November 4, 2015 11:55 AM ESTThere are many questions about Carl Icahn's position, or lack thereof, in Valeant Pharma (NYSE: VRX) following an interview at yesterday's DealBook conference which was streamed on CNBC.
"I'm not in Valeant," Icahn initially said. Then he said "Well... I... More
Valeant Pharma (VRX) Ticks Lower Amid New 'Missing Piece' Report
November 4, 2015 11:20 AM ESTValeant Pharma (NYSE: VRX) shares are ticking lower amid another negative report out Wednesday. The report mainly looks at certain member's of Valeant's management and its review of Philidor.
Valeant is down 2 percent on the session.
The report, entitled "The Missing Piece," is embedded below:
... MoreRetrophin (RTRX) PT Trimmed to $44 at Leerink Partners Post Q3, 'Outperform' Maintained
November 4, 2015 6:54 AM ESTLeerink Partners analyst Joseph Schwartz reiterated an Outperform rating but lowered his price target on Retrophin (NASDAQ: RTRX) to $44.00 (from $48.00) following Q3 results which beat on the top line. They note patient indemnification efforts are in focus.
Schwartz commented, "RTRX reported 3Q... More
Icahn nods at Valeant interest, pushes for cash repatriation law
November 3, 2015 5:41 PM ESTBy Michael Flaherty
NEW YORK (Reuters) - Billionaire investor Carl Icahn made a cryptic reference suggesting he has an interest in embattled drug maker Valeant on Tuesday, and said he was speaking to U.S. politicians about a corporate cash repatriation law that would deter so-called tax inversion deals.
"Im not in Valeant, well, I dont want to say Im not completely in it but Im not going to tell you where I am with it," Icahn said, when asked about the company at the New York Times DealBook conference. He did not explain further.
... More