Valeant CEO sees new drug pricing environment ahead

Mon Oct 19, 2015 8:50am EDT
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NEW YORK Oct 19 (Reuters) - Valeant Pharmaceuticals International Inc CEO J. Michael Pearson said on Monday that outside pressures are creating a new pricing environment for all pharmaceutical companies and that Valeant expects to keep increases to 10 percent or less next year.

During a conference call with investors in which he defended the company's drug pricing strategy, Pearson said that Valeant has begun during the past two years to increase sales volumes as a percentage of growth compared with price increases.

(Reporting by Caroline Humer)