Specialty drugmaker Horizon Pharma’s (HZNP) battered stock rose sharply Friday as the company issued a statement countering its takeover target Depomed ‘s (DEPO) charges regarding its drug-pricing policy. Horizon has been in hot water since Monday, when both it and Valeant Pharmaceuticals (VRX) were the subject of a New York Times article saying the companies were using specialty pharmacies as a way to avoid the efforts of such major
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
Drug giant Valeant Pharmaceuticals beat Q3 estimates and raised its guidance Monday, but the stock fell 7.7% as the CEO admitted that recent controversy over its high drug prices is leading to new strategies, including a possible sale of Valeant’s neurology business. On a conference call to discuss Q3 earnings Monday morning, Valeant (VRX) CEO J. Michael Pearson said the company will be adjusting its strategy in light of recent