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Here's Why Valeant (VRX) Stock Is Rising Today

NEW YORK (TheStreet) -- Valeant Pharmaceuticals (VRX - Get Report) stock is climbing by 0.54% to $101.01 in late morning trading on Tuesday, after the company sent a letter to doctors detailing a new program to guarantee continued delivery of medicine to patients.

After ending its relationship with specialty pharmacy Philidor last week, the pharmaceutical and medical device company is creating a new program that will guarantee its patients will continue to receive dermatology drugs, Bloomberg reports.

The program will operate through major pharmacy chains and independent pharmacies, and will be available to patients who pay with cash or have commercial insurance, according to Bloomberg.

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Additionally, Citron Research did not release new allegations against the company yesterday. Investors had expected further allegations after Citron Research tweeted on Friday that it would update the story on Monday, according to Reuters.

Separately, TheStreet Ratings team rates VALEANT PHARMACEUTICALS INTL as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about...