SEC Hits Valeant With Multi-Pronged Probe

Law360, New York (September 11, 2006, 12:00 AM EDT) -- Valeant Pharmaceuticals International announced Monday that the U.S. Securities and Exchange Commission was investigating possible share trading irregularities surrounding the release of trial data for the company’s hepatitis C drug, Viramidine.

The SEC has also requested information regarding Valeant’s stock option grants going back to 2000, the company said. The specialty pharmaceutical business is now one of more than 100 companies being probed by the government for options backdating.

Valeant said it is cooperating with the investigations. It also said it is conducting an internal review...
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