The Traderszone Network

Published in TZ Latest News 22 October, 2015 by The TZ Newswire Staff

Valeant vows to refute ‘phantom sales’ allegations

TORONTO/NEW YORK (Reuters) – Valeant Pharmaceuticals International Inc (VRX.TO) moved to reassure investors on Thursday after being accused of using specialty pharmacies to inflate revenue, and said it would refute them in detail on a conference call with investors. Valeant shares have lost more than 25 percent of their value since influential short-seller Citron Research made the allegations on Wednesday. The company had already issued statements denying the claims.