Short sellers have been making false, unsubstantiated claims about Valeant for months in an attempt to drive down our stock price, and today’s allegations also contain significant inaccuracies. Valeant has already disclosed that 7.2% of our sales this year through the third quarter went through specialty pharmaceutical channels, and that has not changed. As we have said, in October we decided it was appropriate to sever our relationship with Philidor after allegations about their business practices came to light. The entities mentioned today appear to have been formed on or prior to 8/18/2015, based on public records. Furthermore, our board of directors has appointed an ad hoc committee to review allegations related to Valeant’s business relationship with Philidor and related mattersThere is no denial the entities were set up either by Valeant or Valeant associates.
They can't and don't deny that because it is the truth.
But they deny that they are still setting up or running these pharmacies. I could have fun with that assertion - lists of transactions if they want.
However one will do. A chess named pharmacy from that list (ELO Pharmacy) registered in Illinois on 28 October - after the Philidor expose.
Here is a screen shot.
It is in chess 50 moves without pawn-move or capture until we declare a draw.
My claims are neither false nor unsubstantiated.
And you dear Valeant management have a problem.
On fifty moves without pawn-move or capture: we just reset the clock.