Newspaper article The Canadian Press

Valeant Forms Committee on Drug Prices

Newspaper article The Canadian Press

Valeant Forms Committee on Drug Prices

Article excerpt

Valeant forms committee on drug prices

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LAVAL, Que. - Embattled drug manufacturer Valeant Pharmaceuticals International (TSX:VRX) is revamping the way it prices drugs.

The company issued a statement late Thursday saying it is forming a new "patient access and pricing committee" that will be responsible for what it charges for prescription drugs.

The committee will be chaired initially by chairman and chief executive Joseph Papa and include what the company describes as a multi-disciplinary team of Valeant employees, including doctors, scientists and other executives.

The move comes as Valeant and other drug companies have faced increased scrutiny -- and criticism -- over soaring drug prices.

Several companies, including Valeant, have been scolded for buying rival companies to acquire the rights to their medicines, then severely jacking up prices. …

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