不把炒股的折腾出心脏病发作，它们不能消停。
有人指责这个公司做假账，公司否定。
NEW YORK (Reuters) - Valeant Pharmaceuticals International Inc plunged as much as 40 percent after an influential short-seller accused the company of using specialty pharmacies to inflate its revenue, an allegation that the drugmaker denied.
Citron Research, a short-selling firm run by Andrew Left, alleged that Valeant's previously undisclosed ties to specialty pharmacies - including Philidor and R&O Pharmacy Inc - helped the company create "phantom sales" of its products or push more product through distribution channels than sales would warrant.
“Citron believes the whole thing is a fraud to create invoices to deceive the auditors and book revenue,” the note said.
Valeant said in response that it does not record sales of drugs that are stocked as inventory at such pharmacies in its consolidated financial reports.
"Sales are only included when the product is dispensed to the patient," Valeant said in a statement.
Nevertheless, the Citron report accelerated investor concerns over drug pricing and sales practices in the pharmaceutical industry, which have come under scrutiny in Congress and from U.S. presidential candidates.
Valeant is viewed as the most aggressive among drugmakers for buying rivals and raising prices on their medications to boost sales, a strategy that has made it a darling among investors including billionaire Bill Ackman. Last week, it disclosed that such practices are under investigation by federal prosecutors in New York and Massachusetts.
The Citron Research report hit shares hard shortly after 10 a.m. EDT (1400 GMT) in New York trading. The shares cut their losses and were last down 16 percent at $123.05, representing about a roughly $500 million loss for Ackman's Pershing Square Capital Management, which holds a 5.7-percent stake in Valeant.
Pershing did not have an immediate comment. CNBC reported Ackman added to his stake on Wednesday.
Shares of some key Valeant competitors, including Allergan Inc, Endo International Plc and Mallinckrodt Plc also fell sharply. Allergan and Endo each said that the majority of their drugs are distributed through traditional wholesale and retail channels, not specialty pharmacies.
Len Yaffe, an investor at StocDoc Partners, who is short Valeant, said that he is not yet sure of what to make of Citron’s claims. He said the notion that Valeant would need to resort to phantom sales to juice revenues heightens existing widespread concerns about the company’s ability to produce growth in an increasingly hostile pricing environment.
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