Valeant Accused in Suit of Secretly Refilling Prescriptions

  • T. Rowe Price says it was victim of drugmaker securities fraud
  • Company created network around mail-order pharmacy Philidor

Why T. Rowe Price Is Suing Valeant Now

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Valeant Pharmaceuticals International Inc. refilled patients’ prescriptions without their permission and steered them to more expensive drugs in order to boost sales and profits, according to a lawsuit that sheds new light on the drug company’s secret operations.

T. Rowe Price Group Inc. sued Valeant and its top executives, using information from former employees to back its claims that the mutual fund giant was a victim of fraud. The former Valeant workers expand on previous disclosures about the Laval, Quebec-based company that has been the subject of criminal, congressional and regulatory investigations of how it shielded branded drugs from generic competition to inflate revenue and profit.