Valeant raises list prices of some products by up to 9 pct

Fri Oct 14, 2016 1:33pm EDT
 
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Oct 14 (Reuters) - Canadian drugmaker Valeant Pharmaceuticals Inc said it will increase the list prices of products in its neurology, gastro-intestinal and urology portfolios by 2 percent-9 percent.

These planned wholesale acquisition price changes are effective Oct. 14, Valeant said on Friday.

Shares of the Laval, Quebec-based company were down 2.4 pct on the Toronto Stock Exchange.

The changes are in line with the company's plans to ensure average annual price increases for its prescription pharmaceutical products are no greater than single digits and below the five-year weighted average of increases within the industry.

The embattled drugmaker is trying to regain investor confidence following a tumultuous past year in which its pricing strategy and ties to a specialty pharmacy led to a wider political and regulatory scrutiny, hammering its stock. (Reporting by Dipika Jain in Bengaluru; Editing by Shounak Dasgupta)