CVS Health

Valeant cutting ties with Philidor

Valeant cutting ties with Philidor

Valeant Pharmaceuticals, a company that has come under intense scrutiny for its drug prices, has cut ties with Philidor following accusations that it was a "phantom pharmacy" used solely to artificially boost sales.

Valeant said Friday that the mail-order pharmacy has informed the company that it will shut down as soon as possible.

The imminent end of Philidor comes just hours after the nation's two largest pharmacy benefit providers, CVS Health and Express Scripts, said that they had ended all interactions with the company citing its business practices. UnitedHealth Group conducted an audit of Philidor in late 2014 and began cutting ties with the company "in...