Valeant Pharma (VRX) Is Still Registering Philidor-Like Specialty Pharmacies - Bronte Capital
Valeant Pharma (NYSE: VRX) is indicated lower (-2.6%) following an interesting post from Bronte Capital, which may shed more light on the company's Philidor-like specialty pharmacy strategy.
Bronte highlighted some 78 pharmacies registered in Delaware which were named after chess terms, as are many previously disclosed Philidor entities. Bronte also noted a distinct Stephen King theme.
Bronte notes that this is just from one state.
More troubling is that Bronte highlighted that the registration of these so-called "false pharmacies" continued after Philidor was exposed and after Valeant said that they would stop doing business with Philidor. Also, the folks on the registration documents are also often on the pay roll of Valeant.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- S&P 500 will face a test 'sooner or later,' BTIG analyst says
- Wall Street ends higher, investors juggle Fed nerves with AI enthusiasm
- Several stocks react to NVIDIA CEO's GTC keynote
Create E-mail Alert Related Categories
Short Sales, Trader TalkSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!