McLean: Valeant's wrongdoing was drug price hikes, not hidden accounting
Bethany McLean · #85 Bethany McLean: Crafting a Narrative · Jun 9, 2020 · at 14:38
Journalist Bethany McLean contrasts Valeant Pharmaceuticals with Enron, distinguishing visible price increases from hidden accounting maneuvers.
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“The ways in which they were different, I don't think the substance of the Valiant story was accounting misrepresentation the way it was with Enron. You could actually see pretty clearly that what Valiant was doing with its numbers. There were a lot more of Enron's shenanigans that were really hidden from plain sight. Valiant's wrongdoing to me really centered around the price increases the way they were increasing prices on drugs.”
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