- Buried in the details of a new 20-year distribution agreement between Valeant Pharmaceuticals (VRX) and Walgreens Boots Alliance (NASDAQ:WBA) is a $150M financial hit to Valeant that underscores the unusual nature of the deal (which will see the firm buy back its own drugs from Walgreens and then resell them on consignment to the pharmacy).
- The pact will help Valeant replace a controversial mail-order pharmacy, Philidor, which had close ties to the drug company and used aggressive tactics to win insurance payments.
- Previously: Valeant inks fulfillment deal with Walgreens; shares up 8% premarket (Dec. 15 2015)