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BRIEF-Valeant is sued over alleged overcharges, racketeering violations

Published 2016-08-29, 01:56 p/m
© Reuters.  BRIEF-Valeant is sued over alleged overcharges, racketeering violations
BHC
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Aug 29 (Reuters) - Valeant Pharmaceuticals International Inc (NYSE:VRX) VRX.TO :

* Is sued in New York federal court over alleged overcharges -- court filing

* Lawsuit was brought on behalf of so-called third party payors over alleged

overcharges from January 2013 to October 2015

* Plaintiffs include New York hotel trade group's health benefits fund, and

detectives endowment association of New York City

* Plaintiffs claim that Valeant harmed third party payors by aggressively

raising prices, and using philidor rx to implement them

* Lawsuit accuses Valeant of violating U.S. racketeer influenced and corrupt

organizations act, or rico

* Lawsuit seeks class action status, unspecified compensatory and triple

damages

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