Valeant to host call to address, refute short-seller allegations

Thu Oct 22, 2015 3:06pm EDT
 
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TORONTO Oct 22 (Reuters) - Valeant Pharmaceuticals International Inc said on Thursday it plans to host a conference call on Monday to lay out and address all the recent allegations that have been made against the company.

Valeant's share price slid 11.5 percent on Thursday, adding to a 19-percent drop on Wednesday when influential short-selling firm Citron Research accused the company of using a network of pharmacies to create phantom sales of its products.

"We look forward to our call on Monday where we will address and refute recent allegations," said Valeant Chairman and Chief Executive Michael Pearson, in the statement.

Valeant said board members from its audit committee, along with its CEO, chief financial officer, general counsel and other senior executives will be on the call. (Reporting by Euan Rocha)