Skip to content
Subscriber Only

Ackman Was Right: Valeant Skimps on Washington Lobbyists

  • Underinvesting in government relations a `meaningful mistake'
  • Drugmaker spent $60,000 on lobbying in third quarter of 2015
Video player cover image

Inside Valeant's Decision to Cut Ties With Philidor

Updated on

Bill Ackman was right: Valeant Pharmaceuticals International Inc. spends a fraction of what similar drugmakers do on lobbyists to represent the company in Washington and keep it abreast of sentiment on the industry in the nation’s capital.

Valeant, under fire for price hikes on older drugs and a now-terminated relationship with a mail-order pharmacy that helped boost insurer reimbursement, faces investigations in both houses of the U.S. Congress. Yet the drugmaker, valued at $32 billion, is using very little of its $8.26 billion in 2014 sales on government relations, according to data compiled by Bloomberg Government.