Valeant Dives As Short Seller Alleges Pharmacy Fraud
Embattled drugmaker Valeant Pharmaceuticals (VRX) tumbled nearly 40% Wednesday to a two-year low and closed down 19.2%, as short-selling outfit Citron Research charged it with a complex fraud involving multiple specialty pharmacies. Valeant responded that the report was based on erroneous assumptions. Citron referred to a report from the Southern Investigative Reporting Foundation (SIRF) probing a lawsuit by the small California-based R&O Pharmacy