UPDATE 2-Valeant reiterates key executive resigned, was not asked to go

Thu Mar 3, 2016 12:47pm EST
 
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* Responds to investor queries, says VP not asked to leave

* "Unexpected change is yet another setback" - Wells Fargo

* VP led business tied to Philidor, now part of SEC probe

* U.S.-listed stock fall about 3 percent (Adds analyst comment, detail)

By Natalie Grover

March 3 (Reuters) - Valeant Pharmaceuticals International Inc , responding to investors' queries, said on Thursday that Executive Vice President Deb Jorn had not been asked to leave, reiterating that she had resigned for personal reasons.

Jorn oversaw the Canadian drugmaker's U.S. dermatology business, which had ties with Philidor Rx Services, a specialty pharmacy that came under fire for using aggressive tactics to increase insurer reimbursement, mostly for dermatology drugs.

Valeant in October severed its ties with Philidor, which has since shut shop. The company's relationship with Philidor is the focus of an investigation by the U.S. Securities and Exchange Commission, Reuters reported.

A Valeant board committee is also investigating the company's ties with Philidor, and the drugmaker on Thursday said Jorn's departure "is not the result of an action taken by the Ad Hoc Committee of the Board of Directors".   Continued...