Valeant facing SEC probe as drugmaker’s miseries mount

The head office and logo of Valeant Pharmaceutical are pictured in Montreal on Monday May 27, 2013. THE CANADIAN PRESS/Ryan Remiorz

Valeant Pharmaceuticals is entangled in an SEC investigation to compound the drugmaker’s headaches as it grapples with questions about its pricing practices, finances and CEO’s health.

The company confirmed the Securities and Exchange Commission’s probe Monday without providing further details.

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The investigation is separate from a previously disclosed SEC inquiry into accounting and inventory issues at Salix Pharmaceutical, a drugmaker that Valeant bought for $11 billion last year.

An SEC spokeswoman declined to comment Monday.

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Valeant also is under investigation by U.S. Attorney’s offices in Massachusetts and New York, as well as Congress.

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The Canadian company has been under scrutiny for buying old drugs and then jacking up its prices. Valeant’s CEO returned to work Monday after coming down with pneumonia and missing nine weeks of work.

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