Valeant: SEC conducting inquiry into Ribapharm public offering

By Lisa Kerner

Charlotte, N.C., Sept. 11 - The Securities and Exchange Commission is conducting an inquiry surrounding the trading of Valeant Pharmaceuticals International's common stock and the public release of data from its first pivotal phase 3 trial for Viramidine.

Valeant said the SEC requested data since Jan. 1, 2000, including information related to the company's attempt to have bonuses returned that were paid to Milan Panic, the company's former chairman and chief executive officer, and others, in connection with the Ribapharm initial public offering.

While Valeant and Panic had come to terms to settle the lawsuit, Panic has allegedly failed to make timely payments.

Valeant is a specialty pharmaceutical company based in Cosa Mesa, Calif.

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