Virtus Thwarts Efforts of Bausch Health (formerly known as Valeant) to Push Lower Priced Competing Drugs off the Market
Aug. 02, 2018
LANGHORNE, Pa.--(BUSINESS WIRE)--Aug 1, 2018--Virtus Pharmaceuticals, LLC continues its efforts to provide consumers with access to lower cost drugs in the pharmaceutical industry, this time by prevailing in a case against Bausch Health Companies (formerly Valeant Pharmaceuticals) for chlordiazepoxide/clidinium products prescribed to treat various stomach and intestinal conditions. Tina Guilder, Virtus CEO, commented: “Virtus is committed to providing patients with access to affordable drugs. I am pleased that U.S. consumers will continue to have another quality choice for chlordiazepoxide/clidinium at a reasonable price for the foreseeable future.”
On July 27, 2018, the International Trade Commission (ITC) terminated a proceeding initiated by Bausch Health Companies seeking to stop the sale of low-priced chlordiazepoxide/clidinium products such as one sold by Virtus. Bausch Health sells a chlordiazepoxide/clidinium product called Librax(r) and has reportedly raised its list price to more than $4400 per 100-ct bottle (drugs.com), even though the product has been available for more than 50 years. Virtus has sold its products containing the same active ingredients for years at a fraction of that cost. Bausch Health sought to have the International Trade Commission stop all domestic distribution of these less expensive products, which would have allowed Bausch Health to deny consumers access to lower-cost chlordiazepoxide/clidinium products. Without competition, companies are free to sell their products at substantially higher prices. The reversal at the ITC is a victory for Virtus and patients everywhere who will retain access to lower-priced chlordiazepoxide/clidinium products.
About Virtus Pharmaceuticals
Virtus Pharmaceuticals’ mission is to be the leading specialty niche pharmaceutical company providing the highest quality products through experienced leadership, innovative approaches and outstanding customer service. For more information, please visit the Company’s Web site at: www.virtusrx.com
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CONTACT: Virtus Pharmaceuticals, LLC
Warren Pefley, 267-938-4776
Sr. Vice President
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: SENIORS HEALTH PHARMACEUTICAL PROFESSIONAL SERVICES LEGAL FDA CONSUMER MANAGED CARE
SOURCE: Virtus Pharmaceuticals, LLC
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PUB: 08/01/2018 08:30 PM/DISC: 08/01/2018 08:30 PM