Valeant Comments On SDNY Investigation

(RTTNews) - Valeant Pharmaceuticals International, Inc. (VRX, VRX.TO) issued the following statement regarding the ongoing investigation being conducted by the U.S. Attorney's Office for the Southern District of New York. The company said it does not comment on rumors about investigations, and cannot comment on or speculate about the possible course of any ongoing investigation.

Valeant said that it previously disclosed in October 2015 that the United States Attorney's Office for the Southern District of New York commenced an investigation involving Valeant. It has been fully cooperating with the authorities throughout the investigation, and it is in frequent contact and continue to cooperate with the U.S. Attorney's Office for the Southern District of New York.

"Valeant takes these matters seriously and intends to uphold the highest standards of ethical conduct as we move forward with our mission to improve people's lives with our healthcare products," the company said.

Earlier today, the Wall Street Journal reported that The lawyers, in the U.S. attorney's office in Manhattan, are pursuing an unusual legal theory, previously unreported, that Valeant and a closely linked mail-order-pharmacy, Philidor Rx Services LLC, allegedly defrauded insurers by hiding their close relationship.