05.22.18

Ex-Valeant Executive Guilty of Taking Pharmacy CEO’s Bribe

Source: Bloomberg

A former Valeant Pharmaceuticals executive was found guilty of accepting a $10 million bribe for manipulating the company’s takeover of a startup mail-order pharmacy in 2014, according to a report in Bloomberg.

Gary Tanner, who was a Valeant senior director, engaged in fraud and money laundering by depriving the company of his “honest services” and taking a kickback from an offshore account after the deal closed, a Manhattan federal jury found. Former Philidor Rx Services LLC Chief Executive Officer Andrew Davenport, who paid the kickback, was also convicted on Tuesday after a three-week trial.

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