The Tiny Pharmacy at the Center of Valeant's Money Mystery
- After agreeing to sell his pharmacy, owner's questions mounted
- E-mails raised concerns over audits, court filings show
Front view of R&O Pharmacy in Camarillo, California.
Photographer: Esme E. Deprez/BloombergThis article is for subscribers only.
Several months before investors directed a barrage of scrutiny at Valeant Pharmaceuticals International Inc., one Southern California pharmacist began pulling on a thread.
Valeant disclosed last week that it had ties to a network of pharmacies filling prescriptions for its drugs across the U.S., setting off a $10 billion drop in its market value as investors struggled to reassess the company’s sales picture. Asked why it hadn’t talked sooner about the related web of pharmacies, Valeant said that it hadn’t been bound to do so.