CVS Health drops Philidor, adds to Valeant's woes

Thu Oct 29, 2015 4:08pm EDT
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Oct 29 (Reuters) - Drugstore chain CVS Health Corp said it had dropped Philidor Rx, a specialty pharmacy associated with Valeant Pharmaceuticals Inc , from its Caremark program.

Valeant's shares tumbled last week after influential short-seller Citron Research said the company was using specialty pharmacies to inflate revenue.

CVS took the step following an audit of Philidor, citing "noncompliance" with its provider agreement. (Reporting by Natalie Grover in Bengaluru; Editing by Anil D'Silva)