- In a statement, Valeant Pharmaceuticals (VRX -2.2%) says it has raised the wholesale acquisition prices of its neurology, gastrointestinal and urology products by 2 - 9% effective today. It adds that the increases, approved by its internal Patient Access and Pricing Committee, are consistent with its commitment that product price increases will not exceed single digits and the five-year weighted average price increases in the branded biopharmaceutical industry.
- The company also states that there will be no price increases in its dermatology and ophthalmology products and that the net pricing has actually dropped more than 10%, on average, this year due to rebates and other adjustments. This appears to contradict Valeant's September 9.9% increases in three ophthalmology products: Atropine Sulfate Ophthalmic Ointment, PrednisoLONE Sodium Phosphate and Ophthalmic Solution and Neomycin-Polymyxin-Gramicidin Ophthalmic Solution. According to Wells Fargo, the company confirmed the hikes.