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Aurelius bearish on Neurocrine Biosciences

|About: Neurocrine Biosciences... (NBIX)|By: , SA News Editor

Investors appear relatively unmoved, at least so far, over a bearish report on Neurocrine Biosciences (NBIX -0.6%) from Marcus Aurelius Value, citing its alleged employment of a physician kickback scheme that sunk Otsuka Holdings' (OTCPK:OTSKF) Avanir Pharmaceuticals which had to pay $108M to settle U.S. DOJ charges over its promotional activities for Nuedexta (dextromethorphan hydrobromide and quinidine sulfate).

The architect of Avanir's misbehavior is now the chief commercial officer at Neurocrine and is, allegedly, using the same approach to market Ingrezza (valbenazine), approved in the U.S. in April 2017 for tardive dyskinesia. The company is supposedly paying exorbitant speaking fees to the same doctors that Avanir did.

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