Another congressmen just accused Valeant of a 'pattern of obstruction'
Joshua Roberts/Reuters
In doing so, he has become the second politician in the last week to accuse Valeant of not cooperating with government investigations into the company.
"Your refusal to cooperate fully with Congress is extremely troubling and reflects a pattern of obstruction that impairs our ability to protect the American people against your company's exorbitant price increases," Cummings wrote in a letter sent to outgoing Valeant CEO Michael Pearson.
The documents he's requesting include transcripts of interviews with Philidor employees.
Valeant, a former Wall Street darling, disclosed Philidor's existence in October. That revelation, combined with government scrutiny over the company's pricing practices, sent Valeant's stock careening down over 80%.
The government is investigating whether or not Philidor aided Valeant in keeping its drug prices unreasonably high, and used shady practices to get prescriptions filled by insurers. Those issues prompted Valeant to create an ad hoc committee, which for irregularities with its accounting. The company finished that internal investigation recently, but it forced Valeant to delay its annual report until May 30th at the latest.
Last week, the Senate Committee on Aging accused Pearson of being in contempt, for not showing up to a deposition scheduled for earlier this month. On Wednesday, the committee will hold a business meeting to decide whether or not to initiate contempt proceedings against Pearson.
Valeant did not respond to Business Insider's request for comment on this story.
Pearson is also scheduled to testify before the committee
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Experts warn of rising temperatures in Bengaluru as Phase 2 of Lok Sabha elections draws near
- Axis Bank posts net profit of ₹7,129 cr in March quarter
- 7 Best tourist places to visit in Rishikesh in 2024
- From underdog to Bill Gates-sponsored superfood: Have millets finally managed to make a comeback?
- 7 Things to do on your next trip to Rishikesh