Valeant executives asked to explain drug spike hikes to Special Senate Committee on Aging
A Valeant Pharmaceutical board member said he would ask that the price of two drugs be lowered by 30 percent, after company executives were called before a Senate Special Committee on Aging Wednesday to explain the skyrocketing cost of established drugs.
The criticism of the drug company's price increases are valid, said new board member William Ackman, CEO and founder Pershing Square Capital Management, a large stakeholder in Valeant.