Emma Asma Cornwall
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Emma Asma Cornwall in Gainers & Losers,

Valeant just can't stay out of trouble

Recently Valeant released decent financial results and I wrote in my post that I prefer to wait and see, because it is a rather unpredictable and volatile stock, and here it is - Valeant simply can't get out of trouble.

Federal prosecutors are investigating whether Valeant Pharmaceuticals InternationalInc. defrauded insurers by shrouding its ties to a mail-order pharmacy that boosted sales of its drugs, people familiar with the matter said.

The lawyers, in the U.S. attorney’s office in Manhattan, are pursuing an unusual legal theory, previously unreported, that Valeant and a closely linked mail-order-pharmacy,Philidor Rx Services LLC, allegedly defrauded insurers by hiding their close relationship, the people familiar with the matter said, according to WSJ.

Good for me, I didn't go long!)