Valeant is sued over Philidor ties, alleged racketeering

Mon Aug 29, 2016 2:17pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

NEW YORK Aug 29 (Reuters) - Valeant Pharmaceuticals International Inc was sued on Monday by buyers of its drugs, who claimed they were forced to pay exorbitant prices stemming from the Canadian company's ties to a specialty pharmacy that helped boost sales.

In a complaint filed in the U.S. District Court in Manhattan, the plaintiffs accused Valeant of violating the federal Racketeer Influenced and Corrupt Organizations Act, and sought compensatory and triple damages.

The defendants include Andrew Davenport, who had been chief executive of the specialty pharmacy, Philidor RX Services LLC, according to the complaint. (Reporting by Jonathan Stempel in New York; Editing by Jeffrey Benkoe)