Former Valeant and Philidor executives plead not guilty in fraud scheme
MONTREAL — A former executive with Valeant Pharmaceuticals and the head of a defunct U.S. mail-order pharmacy pleaded not guilty Thursday to conspiring to defraud the Quebec-based drug giant through a multimillion-dollar kickback scheme.
A lawyer for Gary Tanner, 39, a former executive at Valeant (TSX:VRX) confirmed that his client and former Philidor Rx Services CEO Andrew Davenport, 48, entered the pleas in the U.S. District Court in Manhattan.
The pair were arrested last November and each charged with four counts, including wire fraud, conspiracy to commit wire fraud and conspiracy to commit money laundering.
Investigators allege that both accused conspired to obtain tens of millions of dollars from Valeant and split the proceeds.