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by Mike Caswell

Former Valeant Pharmaceuticals Inc. executive Gary Tanner has pleaded not guilty to criminal charges stemming from a kickback scheme. He and his co-accused, former Philidor Rx Services LLC chief executive officer Gary Davenport, entered not guilty pleas on Thursday, Feb. 23, before a judge in New York. Mr. Tanner is free on a $1-million bond and Mr. Davenport is free on a $2-million bond. (All figures are in U.S. dollars.)

Prosecutors claim that the pair were part of a kickback scheme related to Philidor, a controversial on-line pharmacy. The men pressed Valeant into making a deal to acquire Philidor, while enriching themselves by $40-million, the government says. The alleged scheme led to a substantial decline in Valeant's share price after many questioned whether Philidor was favouring Valeant drugs over cheaper generic alternatives.

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Andrew Davenport

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