4 ms·

Philidor was changing doctors' prescriptions by writing DAW on them ... this is highly illegal, people will definitely be going to jail for that. Oh, boy, this

Philidor was changing doctors' prescriptions by writing DAW on them ... this is highly illegal, people will definitely be going to jail for that. Oh, boy, this could get exciting quite quickly. Valeant owns an option that lets them buy Philidor for $0 (plus possible incentive payments).[0] Yes, that's not a typo. This was submitted to HN a few days ago but didn't generate any comments. The executives still (at least nominally) running Philidor must be shitting in their pants right about now. It looks like Valeant is out to make them look like bagmen. But why would they go down without a fight? The internecine warfare is about to get very interesting, or in more colloquial terms, the shit is really about to hit the fan. [0] http://www.bloombergview.com/articles/2015-10-26/valeant-s-pharmacy-relationships-were-complicated http://www.bloombergview.com/articles/2015-10-26/valeant-s-p...

kenesom1 11y ago
"SIRF reporting reveals that Valeant has been closely involved with Philidor at every stage of its life-cycle, controlling it in all but name, since day one." http://sirf-online.org/2015/10/19/hidden-in-plain-sight-valeants-big-crazy-sort-of-secret-story/ http://sirf-online.org/2015/10/19/hidden-in-plain-sight-vale...
- PhantomGremlin 11y ago
  The key is "all but name". If I'm Andy Davenport, Philidor's CEO, I immediately get together with my brother Matthew Davenport, also mentioned in your link, to get my story straight. Because it is their name on all the documents. Sarbox has put a damper on the Sgt. Schultz defense of "I hear nothing, I see nothing, I know nothing!". CEOs can go to jail even if they claim they were just ignorant figureheads. So if I'm the Davenports I immediately go to the Federales and cut a deal. I rat out Mike Pearson (Valeant's CEO) and claim that he put them up to it. Note that its in the Davenport brothers interest to lie and make up shit if they have to, because that's probably their best way they avoid Club Fed (or worse). Like I said, this could get interesting pretty quickly.

kenesom1 11y ago

"SIRF reporting reveals that Valeant has been closely involved with Philidor at every stage of its life-cycle, controlling it in all but name, since day one." http://sirf-online.org/2015/10/19/hidden-in-plain-sight-valeants-big-crazy-sort-of-secret-story/ http://sirf-online.org/2015/10/19/hidden-in-plain-sight-vale...

PhantomGremlin 11y ago
The key is "all but name". If I'm Andy Davenport, Philidor's CEO, I immediately get together with my brother Matthew Davenport, also mentioned in your link, to get my story straight. Because it is their name on all the documents. Sarbox has put a damper on the Sgt. Schultz defense of "I hear nothing, I see nothing, I know nothing!". CEOs can go to jail even if they claim they were just ignorant figureheads. So if I'm the Davenports I immediately go to the Federales and cut a deal. I rat out Mike Pearson (Valeant's CEO) and claim that he put them up to it. Note that its in the Davenport brothers interest to lie and make up shit if they have to, because that's probably their best way they avoid Club Fed (or worse). Like I said, this could get interesting pretty quickly.