BUSINESS

Valeant Pharmaceuticals Subpeonaed In U.S. After Price-Gouging Allegations

10/15/2015 08:03 EDT | Updated 10/15/2015 08:59 EDT

NEW YORK - Valeant Pharmaceuticals International Inc. says that federal prosecutors are seeking information on the drug developer's drug pricing, distribution and patient assistance program.

The Canadian company said late Wednesday that it had recently received subpoenas from the U.S. Attorney's Office for the District of Massachusetts and the U.S. Attorney's Office for the Southern District of New York.

Chairman and CEO J. Michael Pearson said his company will co-operate with the federal inquiries.

Pearson said the company's employees believe in "maintaining strong regulatory and financial controls and believe we have operated our business in a fully compliant manner.''

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