Valeant Says It Will Restate Earnings After Board Review
Valeant Pharmaceuticals International Inc. headquarters stands in Bridgewater Township, New Jersey, U.S., on Wednesday Nov. 4, 2015. The drubbing in Valeant Pharmaceuticals International Inc. is the result of a short seller's false claims going unchallenged in the press, according to a hedge-fund manager with one of the largest stakes in the company.
Photographer: Michael Nagle/BloombergValeant Pharmaceuticals International Inc.said it will restate some of its past earnings after a board committee reviewed the U.S. drugmaker’s relationship with a mail order pharmacy.
The restatement deals with results from 2014 and 2015, according to a Valeant statement today. The drugmaker’s board has been looking into its relationship with a mail-order pharmacy called Philidor Rx Services LLC.