November 9, 2015 / 1:22 PM / 3 years ago

Valeant to give an update on operations in conference call on Tuesday

Nov 9 (Reuters) - Valeant Pharmaceuticals International Inc said on Monday it will hold a conference call on Tuesday to give an update on its operations and plans to transition from specialty pharmacy, Philidor.

Valeant CEO Michael Pearson has come under increasing pressure as the company’s stock plunged from $263.70 on Aug. 5 to below $80 last week on scrutiny over high price markups for its drugs and accusations it used a specialty pharmacy, Philidor Rx Services, to inflate revenue.

Pearson, Chief Financial Officer Robert Rosiello along with other executives will conduct the call, which will start at 8.00 a.m ET, Valeant said. (Reporting by Ankur Banerjee in Bengaluru; Editing by Savio D’Souza)

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