Shares of embattled drugmaker Valeant Pharmaceuticals plunged 9.5% in pre-market trading Thursday as investors reeled from a report that the company is facing a criminal investigation into its ties to a controversial mail-order pharmacy.
The company's stock (VRX) fell to $24.74 after the Wall Street Journal said the U.S. Justice Department is probing whether Valeant and Philidor Rx Services "defrauded insurers by hiding their close relationship."
The probe compounds Valeant's challenges as the company grapples with the fallout of its past ties to Philidor and multiple investigations into the company's drug pricing and marketing practices.
The company's stock (VRX) fell to $24.74 after the Wall Street Journal said the U.S. Justice Department is probing whether Valeant and Philidor Rx Services "defrauded insurers by hiding their close relationship."
The probe compounds Valeant's challenges as the company grapples with the fallout of its past ties to Philidor and multiple investigations into the company's drug pricing and marketing practices.
