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Valeant pharmacy cut off by two largest pharmacy-benefit managers in U.S.

Valeant pharmacy cut off by two largest pharmacy-benefit managers in U.S.

October 30, 2015

Via: itCurated
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The two largest pharmacy-benefit managers in the U.S. said they’re ceasing work with a pharmacy used by Valeant Pharmaceuticals International Inc., dealing another blow to Valeant. VRX, -4.70%

CVS Health Corp. CVS, -0.01% said it is terminating pharmacy Philidor Rx Services LLC from its network, after audits found the pharmacy wasn’t complying with terms of its agreement. Express Scripts Holding Co. ESRX, +1.82% released a similar statement about an hour later, saying it was cutting off Philidor and evaluating four additional pharmacies with which Valeant “has a similar relationship.”

“We routinely monitor our network and take action when we see pharmacies trying to circumvent solutions, like formulary management, that protect payers and patients from wasteful drug spend,” Express Scripts said. Representatives of Philidor and Valeant declined to comment.