Former Valeant and Philidor execs plead not guilty in fraud scheme

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By Nathan Layne

<span class="articleLocation”>A former Valeant Pharmaceuticals International
Inc executive and the former chief executive of mail order
pharmacy Philidor Rx Services pleaded not guilty on Thursday to
charges they orchestrated a multi-million dollar fraud and
kickback scheme.

Federal prosecutors accused Gary Tanner, who was a senior
director at Canadian drugmaker Valeant, of working with former
Philidor Chief Executive Officer Andrew Davenport to drive
business and funding from Valeant to Philidor. That, prosecutors
said, was part of a scheme that netted Davenport $40 million,
$10 million of which was secretly kicked back to Tanner.

Founded in 2013, the now-defunct Philidor was a specialty
mail-order pharmacy formed with Valeant’s assistance,
prosecutors said. At least 90 percent of the drugs it dispensed
were Valeant-branded products, they said.

Tanner and Davenport were indicted on four counts, including
conspiracy to commit wire fraud and conspiracy to commit money
laundering.

They entered their not guilty pleas before U.S. District
Judge Loretta Preska in Manhattan.

Both men and their lawyers declined to comment after the
hearing.

Valeant did not immediately reply to a request for comment.
The drugmaker had said in November that it was cooperating with
the authorities while noting that the charges included
allegations that the defendants had defrauded the company.



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