MONTREAL —
Valeant Pharma plans to offer up to $0. 6 billion in savings to the United States each year. S. health-
Starting next year, the medical system has agreed to lower the prices of several drugs as part of a distribution agreement with the popular Walgreens retail chain. The Quebec-
The company said it would cut wholesale prices for brand prescriptions
Based on skin and eyes
Nursing products calculated by ten per cent.
20-lower price reduction
The annual agreement with one of the largest drug chains in the United States will be launched in six to nine months, and it is possible to add other treatments to the program.
Starting in the second half of 2016, Walgreens will also distribute over 30 products of the valante brand at comparable generic prices.
The average price drop is expected to be more than 50, down between 5 and 95.
In Canada, Valeant has not entered into a similar distribution agreement with pharmacy retailers such as the shopper's drug market, Jean Coutu or Rexall Group, and the price reduction does not apply. Valeant’s (TSX:VRX)
The United States has been investigating pricing practices. S.
Since the company has sharply raised prices for some special products this year, authorities including Congress.
A small American company has also been criticized for filing a civil lawsuit. S.
New clues for Valeant's distribution agreements and practices.
"We listened and took positive steps to respond," Valeant Chairman and CEO Michael Pearson said at a press conference on Tuesday, a day ago, he plans to hold a conference call with industry analysts.
New distribution agreement with Walgreens
Chain enterprises with more than 8,000 retail stores
After Valeant decided to cut off contact with the Mail
Order Philidor Rx Service Pharmacy.
Due to the court struggle between Valeant and another email, the relationship was exposed --order pharmacy.
Valeant said the Walgreens agreement will be used as a model for distribution transactions with independent retail pharmacies.
"Our goal is to establish a system that allows the issuance of prescription drugs and effective adjudication of insurance claims, while allowing doctors to focus their efforts on the most important things: patient care, pearson added.
Patients with commercial insurance can benefit from lower spendingof-
Costs, and the plan will also be available for patients who do not have insurance.
The reduced costs, however, do not apply to government insurance.
Alex Gourlay, president of Walgreens, said the new direct delivery model will improve efficiency and service to patients.
Douglas mien of RBC Capital Markets said that Valeant was transformed into independent third-
Investors should take a positive view of the party's distributors.
After falling 73 points in the past few months, Valeant's stock closed up nearly 16 points on Tuesday on the Toronto Stock Exchange.
Miehm said he had expected the company to face significant revenue cuts as it realigned its distribution network.
He added that the most popular drug distributed through Walgreens will be the treatment of Jublia with its toe fungus, which will be reduced by 10 cents.
