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by Mike Caswell

Those waiting to see what the criminal trial of former Valeant Pharmaceuticals Inc. executive Gary Tanner may reveal about the company's inner workings could be in for a disappointment. According to court filings, Mr. Tanner has been negotiating a "possible disposition of the case," legal speak for a plea agreement. If he and a co-defendant were to reach such an agreement, there would be no trial.

New York prosecutors claim that Mr. Tanner and another man engineered Valeant's disastrous relationship with Philidor Rx Services LLC. The men allegedly pressed Valeant into paying $100-million for an option to acquire Philidor, an on-line pharmacy. (All figures are in U.S. dollars.) After the option became public knowledge, many questioned whether Philidor was favouring Valeant drugs over cheaper generic versions. Valeant denied that there was anything improper with its relationship, but it later severed all ties with Philidor.

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Andrew Davenport

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