For all its woes, Valeant Pharmaceuticals was not responsible for every act of bad behavior. Some problems were inherited, and the drug maker will pay $54 million to make one of those disappear.
The company reached a settlement stemming from a probe by the US Attorney in New York into marketing practices for several drugs that were sold by Salix Pharmaceuticals, a company that Valeant bought last year for $11 billion. The agreement, which must still be finalized, was reached this month, according to a filing Valeant made on Tuesday with the US Securities and Exchange Commission (see page 39).
The drugs that were the focus of the investigation, which began in February 2013, are Xifaxan, Relistor, and Apriso, which are used to treat various stomach disorders. It is not clear whether the investigation involved off-label marketing, which is promoting medicines for unapproved uses, or kickbacks that are made to induce doctors to write prescriptions.