BUZZ-Valeant Pharmaceuticals International Inc: Sees lower price hikes ahead

Mon Oct 19, 2015 11:52am EDT
 
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** Canadian drugmaker's U.S.-listed shares down 6 pct at $167.41 after CEO warns of lower price increases ahead for the whole industry

** Toronto-listed shares down 4 pct at C$218.09

** "I do think, given that environment, the pricing that pharmaceutical companies will take in the future will be more modest," CEO Michael Pearson says

** Valeant, and others, have been criticized for acquiring companies and raising prices of drugs to boost profits

** Pearson says 2016 outlook based on expectations where none of company's drugs have an actual price increase of more than 10 pct

** Valeant is also being investigated by the U.S. government

** Up to Friday's close, Valeant's U.S.-listed stock had fallen about 27 pct since Sept. 21 when Clinton tweeted her intent to tackle high prices in some drug markets