X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Photo: Getty Images

Valeant Pharmaceuticals International Inc. was too aggressive in raising prices, outgoing Chief Executive Officer Mike Pearson will tell U.S. senators on Wednesday at a committee hearing to examine the cost of prescription drugs.

“It was a mistake to pursue, and in hindsight I regret pursuing, transactions where a central premise was a planned increase in the prices of the medicines,” Pearson said in prepared testimony for a Senate Special Committee on Aging hearing to be held Wednesday. “The company was too aggressive –- and I, as its leader, was too aggressive –- in pursuing price increases on certain drugs.”

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.