Embattled specialty pharmacy Philidor confirms it's closing
Hatboro-based Philidor RX Services, LLC, the mail-order specialty pharmacy involved in the controversy with Valeant Pharmaceuticals, said Monday evening that it would cease operations in 30 to 90 days.
Hatboro-based Philidor RX Services, LLC, the mail-order specialty pharmacy involved in the controversy with Valeant Pharmaceuticals, said Monday evening that it would cease operations in 30 to 90 days.
Philidor, which was founded in 2013, also had a location in Horsham and Phoenix, Ariz. In a Facebook video, Philidor CEO Andrew Davenport told Pennsylvania State Sen. Stewart Greenleaf that the company had about 430 employees in Pennsylvania and about 200 elsewhere in country.
A Philidor spokesperson said Davenport told employees in a letter Monday that Valeant's decision to end the corporate relationship meant Philidor could not continue to operate. "That plan includes the wind-down of Philidor's principal operations," the statement said. The 30- to 90-day window will allow Philidor to fill prescriptions already received and help patients transfer prescriptions to other pharmacies, the statement said.
The Valeant controversy involved accusations that Valeant had not properly accounted for products shipped through Philidor, which Valeant had an option to buy and was heavily involved in running. Valeant and Philidor have denied any wrongdoing.
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