DOJ Probes Valeant for Accounting Fraud

The transcript discusses the investigation into Valeant Pharmaceuticals, focusing on its controversial business model involving specialty pharmacies like Philidor. These pharmacies allegedly steered patients towards branded drugs, bypassing generic options, which led to higher reimbursements from insurance companies. Michael Pearson, former CEO, remains involved with Valeant under a consulting contract. The transcript also explores why insurance companies initially tolerated these practices and their eventual refusal to work with Philidor, leading to its closure.

What was Michael Pearson's status with Valeant after his resignation?

What actions did insurance companies take after discovering the relationship between Valeant and Philidor?