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Actionable news in VRX: VALEANT PHARMACEUTICALS INTERNATIONAL,

Bill Ackman supports Valeant CEO Michael Pearson

Pharmaceutical company Valeant said last week that it severed ties with specialty pharmacy Philidor because it had lost confidence in Philidor's operating practices. This comes as the two biotech companies are embroiled in a controversy over potentially inflated revenues.

An October research note by Citron Research claimed that Valeant used Philidor and other specialty pharmacies to prop up sales of its drugs. Last month CVS also cut Philidor from its network for "noncompliance with the terms of its provider agreement," and Express Scripts, the largest...


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