Joint Press

Valeant CEO Reverses Course: Senate Special Committee on Aging to Depose Michael Pearson

WASHINGTON – Valeant Chief Executive Officer (CEO) Michael Pearson today reversed course and will now be deposed by the Senate Special Committee on Aging as part of its continuing investigation into pharmaceutical drug pricing. Last week, Mr. Pearson failed to comply with a Congressional subpoena requiring him to attend a deposition.

After his failure to appear, Aging Committee Chairman Susan Collins and Ranking Member Claire McCaskill scheduled a Business Meeting of the Committee to consider a contempt resolution for Mr. Pearson. That meeting has now been postponed, pending Pearson’s appearance at the upcoming deposition.

“The deposition has been scheduled for Monday April 18th and we look forward to hearing Mr. Pearson’s testimony,” said Collins and McCaskill in a joint statement. “This deposition and investigation are about better understanding the dramatic price increases we’re seeing for decades old prescription drugs and how those prices are affecting consumers—and we’re committed to being thorough in that pursuit.”

Mr. Pearson remains under subpoena to appear before the Committee for a scheduled hearing on April 27.   

The Senate Special Committee on Aging has held two previous hearings during their investigation. To date, the hearings have included experts in drug pricing, medical providers, government officials, company executives, and pharmaceutical investors.