Federal prosecutors are gearing as much as cost Valeant prescribed drugs global Inc. VRX, +0.17% government Gary Tanner and former Philidor Rx services LLC Chief govt Andrew Davenport with enticing in a multi-million-dollar fraud and kickback scheme, The Wall side road Journal suggested Thursday. The move comes after a probe of the Canada-primarily based drug firm and its ties to Philidor, a mail-order pharmacy that boosted sales of its drugs, the paper said. U.S. attorney for the Southern District of latest York Preet Bharara is scheduled to announced the fees at a noon press convention. Valeant failed to immediately reply to a request for comment. Shares fell 6.7% in early exchange, and are down 84% within the year thus far, whereas the S&P 500 SPX, +zero.48% has received 6.eight%.
Federal prosecutors to charge Valeant, Philidor execs with fraud and kickback scheme: WSJ