Valeant Pharma (VRX) Issues Comments on Anonymous Press Reports

October 31, 2016 4:47 PM EDT

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Valeant Pharmaceuticals International, Inc. (NYSE: VRX) today issued the following statement regarding comments attributed to anonymous sources in a press report regarding the ongoing investigation being conducted by the U.S. Attorney's Office for the Southern District of New York:

"As Valeant previously stated in response to a prior, similar press report, the Company previously disclosed in October 2015 that the United States Attorney's Office for the Southern District of New York commenced an investigation involving Valeant. We have been fully cooperating with the authorities throughout the investigation, and we are in frequent contact and continue to cooperate with the U.S. Attorney's Office for the Southern District of New York. We do not comment on rumors about investigations, and cannot comment on or speculate about the possible course of any ongoing investigation.

"Valeant takes these matters seriously and intends to uphold the highest standards of ethical conduct as we move forward with our mission to improve people's lives with our healthcare products."

Shares of Valeant fell more than 12% Monday following a report from Bloomberg that ex-CEO, Michael Pearson and ex.-CFO, Howard Schiller, are said to be focus of criminal probe related to potential accounting fraud tied to the company's hidden Philidor Rx Services company.

In August, the Wall Street Journal reported a similar story.



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