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Valeant Pharmaceuticals

Drug company that bought Bausch & Lomb in 2013, raised old-drug prices and sold CeraVe in 2017.

7 links, 4 backed by primary records. 7 more in open data

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Also known as
Valeant
Wikidata
Q1700871

Connections 7

acquired

  • Bausch & Lomb 27 May 2013 $8.7B Scholarship & press 1

    Date of the announced deal; the sources here do not give the closing date.

awarded a contract to

involved in

  • Philidor kickback case the company the scheme defrauded, per the Wall Street Journal as summarised by KFF Health News; its former executive was one of the two sentenced Scholarship & press 4
  • Philidor kickback case the Second Circuit upheld both convictions on 31 October 2019 and sent parts of the restitution and forfeiture orders back to the district court Primary record 2
  • Senate hearing on Valeant, April 2016 its chief executive testified Primary record 3

includes

  • CeraVe until 10 Jan 2017 Scholarship & press 5
Timeline 3 dates
  1. 2013 Valeant Pharmaceuticals awarded a contract to Philidor Rx Services
  2. 27 May 2013 Valeant Pharmaceuticals acquired Bausch & Lomb
  3. until 10 Jan 2017 CeraVe part of Valeant Pharmaceuticals
Proof 5 sources
  1. Valeant to buy Bausch & Lomb for $8.7 billion (Reuters, via Fox Business), Reuters, via Fox Business, 27 May 2013. Scholarship & press
    Valeant Pharmaceuticals International Inc said on Monday that it had inked an $8.7 billion cash deal to take over eye health company Bausch & Lomb Holdings.
  2. United States v. Tanner and Davenport, No. 18-3598, opinion of the Second Circuit (copy on HallApproved.com), U.S. Court of Appeals for the Second Circuit, 31 Oct 2019. Primary record
    In 2013 Tanner’s employer, Valeant Pharmaceuticals International, a pharmaceutical manufacturer, partnered with Philidor RX Services, a specialty pharmacy founded and run by Davenport, to sell Valeant’s pharmaceutical products.
    For the foregoing reasons, the convictions of both Davenport and Tanner are AFFIRMED, the restitution order of the District Court is VACATED in part and REMANDED with instructions to employ a sound methodology in determining Valeant’s actual loss
  3. Valeant Pharmaceuticals' Business Model: The Repercussions for Patients and the Health Care System, hearing, S. Hrg. 114-846, U.S. Senate Special Committee on Aging, 27 Apr 2016. Primary record
    currently there are more questions than answers regarding Valeant's relationship with Philidor, the pharmacy that was managing a key patient assistance program for Valeant.
    In hindsight, I regret pursuing transactions where the central premise was based on an increase in price, for example, our acquisition of Nitropress and Isuprel from Marathon.
  4. Former Executives At Valeant And A Mail-Order Pharmacy Firm Sentenced To Prison, KFF Health News. Scholarship & press
    A former executive at Valeant Pharmaceuticals International Inc. was sentenced Tuesday to spend a year in prison after being found guilty of defrauding the pharmaceutical giant through a multimillion-dollar kickback scheme.
  5. L'Oreal to buy three skincare brands from Valeant for $1.3 billion (Reuters, via Fox Business), Reuters, via Fox Business, 10 Jan 2017. Scholarship & press
    French cosmetics group L'Oreal said on Tuesday it was buying three skincare brands - CeraVe, AcneFree and Ambi - from Valeant for $1.3 billion, in a cash deal which L'Oreal said would boost its U.S. revenues.
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