Philidor 2.0: Valeant Together With Stephen Rex Play Chess Amongst A Lot Of Pharmacies

Valeant (VRX:NYSE) has managed the improbable.

It sells 

(a). Generic drugs frequently amongst closed substitutes,

(b). It has raised their prices sometimes to absurd levels ($1000 acne antibiotics amongst total generic substitutes is an example)

(c). It claims to enhance volumes of these products.

I telephone cry upwards this the improbable trio. It seems improbable that a companionship could create this. Not impossible, simply improbable.

The flim-flam it appears is reliance on non-traditional distribution models. 

The size of non-traditional channels

Valeant's non-traditional channels are rattling large. During the dispute betwixt Allergan together with Valeant Allergan noted that the IMS sales information for Valeant products was crappy. 

Valeant responded that IMS information was unreliable for Valeant. To quote:

United States of America IMS information volition embrace less than 30% of Valeant’s work organisation and, for that part of Valeant’s work organisation IMS covers, the IMS information volition non properly collect sales through a numbers of channels (e.g., specialty pharmacy, physician dispensed sales, corporate accounts, together with choice fulfillment).

The non-traditional distribution methods are hugely of import inward Valeant.

The Philidor allegation

The Philidor allegation is that Valeant [through undisclosed proxies] established or owned pharmacies (such every bit R&O inward California) together with used their chemist's shop numbers to deceive insurance companies into believing that scripts for expensive drugs amongst generic substitutes were beingness presented at smaller suburban pharmacies rather than at a Valeant captive pharmacy. 

Bloomberg has reported for representative that Philidor staff routinely wrote "dispense every bit written" on scripts to preclude generic substitution. [This is fraud.] 

If yet they seat all those scripts through i Valeant associated chemist's shop the insurance companies would wise up.

So they seat the scripts through multiple pharmacies - deceiving the insurance companies into non checking for the fraud.

How many pharmacies?

One of the games nosotros receive got been playing is spot-the-Valeant proxy pharmacy.

We know pharmacies exterior the Philidor web: the proxy captive pharmacies extend beyond Philidor.

But the scale of Philidor problems is non widely understood together with has non been disclosed to the market. I dubiety Mr Ackman would receive got adopted his Martingale strategy had he fully understood.

So lets start.

All these pharmacies were registered inward Delaware. Many are named subsequently chess terms (as are many previously disclosed Philidor entities) but nosotros are also noting a distinct Stephen King theme.

This should maintain the fraud investigators for diverse insurance companies busy. I suspect this volition also boot the bucket added to the listing of things Congress is investigating.

Entity	State	Entity ID	Registered Agent	Notes
Fifty Moves, LLC	DE	5640758	Corporation Service Company	Chess term: Fifty Move Rule
ELO Pharmacy, LLC	DE	5762328	Corporation Trust Company	Chess term: ELO ranking system
C-K Pharmacies, LLC	DE	5762330	Corporation Trust Company	Chess term: The Caro-Kahn defence
Tarrasch Pharmacy Holdings, LLC	DE	5762881	Corporation Trust Company	Chess term: Tarrasch was a neat player
NC3 Pharmacy, LLC	DE	5770687	Corporation Service Company	Chess term: The rarely used Dunst Opening
Lasker Pharmacies, LLC	DE	5770702	Corporation Service Company	Chess term: After the neat part instrumentalist together with theorist Emmanuel Lasker.
B&W Pharmacies, LLC	DE	5770706	Corporation Service Company	Black together with White: the green colours of chess pieces.
NC3 Pharmacy Holdings, LLC	DE	5770708	Corporation Service Company	Another Dunst Opening reference
Knight & Knight Pharmacies, LLC	DE	5770718	Corporation Service Company	Chess Knights I presume.
First Rank Pharmacies, LLC	DE	5770741	Corporation Service Company	Another entity is called "Back Rank: to a greater extent than or less other chess term.
Forsta, LLC	DE	5774549	A Registered Agent, Inc.	Entity yesteryear same advert sought wholesale chemist's shop registration inward AZ amongst Gary Tanner (Owner) together with Jacob Power (Pharmacist-in-Charge), both ex-Philidor/VRX
Charmberlain Pharmacy, LLC	DE	5775980	Corporation Service Company	Named for a favourite Stephen King location...
Mears Pharmacy, LLC	DE	5775991	Corporation Service Company	Named for a repeated Stephen King character...
Marsten House Pharmacy, LLC	DE	5775997	Corporation Service Company	Named for a key place inward Salem's Lot. Notably a symbol of evil.
Torrance Pharmacy, LLC	DE	5776000	Corporation Service Company	Named for key characters inward The Shining.
Overlook Pharmacy, LLC	DE	5776004	Corporation Service Company	The Hotel inward The Shining.
Topiary Pharmacy, LLC	DE	5776008	Corporation Service Company	Topiary animals inward The Shining.
Hallorann Pharmacy, LLC	DE	5776022	Corporation Service Company	Named for the chef at the Overlook Hotel inward The Shining.
Decker Pharmacy, LLC	DE	5776025	Corporation Service Company	Possibly named for another Stephen King character...
Twinner's Pharmacy, LLC	DE	5776026	Corporation Service Company	Named for Stephen King's repeated doppleganger meme.
Parkus Pharmacy, LLC	DE	5776027	Corporation Service Company	A Stephen King grapheme inward The Talisman.
Halleck's Pharmacy, LLC	DE	5776029	Corporation Service Company	Named for to a greater extent than or less other major Stephen King Character.
Flagg Pharmacy, LLC	DE	5776032	Corporation Service Company	Randall Flagg is a major Stephen King Character
Derry Pharmacy, LLC	DE	5776033		Derry is a repeated place inward Stephen King novels.
Pennywise Pharmacy, LLC	DE	5776037	Corporation Service Company	Pennywise the Clown is a recurring Stephen King character.
Plymouth Pharmacy, LLC	DE	5776038	Corporation Service Company	The iconic Stephen King car inward The Shining together with others was a Plymouth.
Hanscom Pharmacy, LLC	DE	5776039	Corporation Service Company	From Ben Hanscom, a Stephen King character
Trips Pharmacy, LLC	DE	5776042	Corporation Service Company	From Captain Trips, a virus that exterminates nigh the human population inward The Stand, a Stephen King novel.
Delain Pharmacy, LLC	DE	5776044	Corporation Service Company	From Delain, a mythical Stephen King domain.
Creed Pharmacy, LLC	DE	5776045	Corporation Service Company	From Louis Creed, the principal grapheme inward a Stephen King novel.
Odetta Pharmacy, LLC	DE	5776046	Corporation Service Company	From Odetta Holmes, a recurring Stephen King character
Hemingford Pharmacy, LLC	DE	5776047	Corporation Service Company	From Hemingford Home, a Stephen King location.
Ludlow Pharmacy, LLC	DE	5776048	Corporation Service Company	From Ludlow Maine, a Stephen King location.
Crandall Pharmacy, LLC	DE	5776050	Corporation Service Company	From Jud Crandall, a Stephen King character.
Sheldon Pharmacy, LLC	DE	5776053	Corporation Service Company	From Paul Sheldon, a major Stephen King character.
Freemantle Pharmacy, LLC	DE	5776054	Corporation Service Company	From Abagail Freemantle, a major Stephen King character.
Revlowe Pharmacy, LLC	DE	5776055	Corporation Service Company	Presumably from the Reverend Lowe inward the Cycle of the Werewolf.
French Landing Pharmacy, LLC	DE	5776058	Corporation Service Company	The place inward Black House, a Stephen King novel.
Wilkes Pharmacy, LLC	DE	5776059	Corporation Service Company	From Annie Wilkes, a Stephen King character.
Henreid Pharmacy, LLC	DE	5776060	Corporation Service Company	Possibly from Lloyd Henreid, a tike Stephen King character.
Beaumont Pharmacy, LLC	DE	5776062	Corporation Service Company	From Thaddeus Beaumont, to a greater extent than or less other Stephen King character.
Sawyer's Pharmacy, LLC	DE	5776064	Corporation Service Company	From Jack Sawyer, to a greater extent than or less other Stephen King character.
DH Stark Pharmacy, LLC	DE	5776065	Corporation Service Company	Possibly brusk for Dark Half from the novel of the same title. George Stark is the major character.
Shardik Pharmacy, LLC	DE	5776066	Corporation Service Company	Shardik is i of the twelve guardians of the Beams that agree upwards the Dark Tower (again a Stephen King reference).
TCM Pharmacy, LLC	DE	5776067	Corporation Service Company	We are fairly certain this is associated - but receive got non worked out the link.
Burlingame Pharmacy, LLC	DE	5776070	Corporation Service Company	Jessie Burlingame is a major Stephen King character.
Lauder & Cross Pharmacy, LLC	DE	5776071	Corporation Service Company	Try these names... http://stephenking.wikia.com/wiki/Harold_Lauder together with http://stephenking.wikia.com/wiki/Nadine_Cross
Claiborne Pharmacy, LLC	DE	5776072	Corporation Service Company	Dolores Claiborne is a Stephen King novel.
Edgecombe Pharmacy, LLC	DE	5776073	Corporation Service Company	From Paul Edgecombe, who used to run Death Row inward a Stephen King novel.
Georgia Pines Pharmacy, LLC	DE	5776074	Corporation Service Company	Georgia Pines is a retirement domicile inward Stephen King novels.
Garraty Pharmacy, LLC	DE	5776075	Corporation Service Company	From Ray Garraty, to a greater extent than or less other Stephen King character.
Cold Mountain Pharmacy, LLC	DE	5776076	Corporation Service Company	The Cold Mountain Penitentiary is where Paul Edgecomb ran expiry row.
Coffey's Pharmacy, LLC	DE	5776078	Corporation Service Company	John Coffey is to a greater extent than or less other Stephen King character.
Stillson Pharmacy, LLC	DE	5776079	Corporation Service Company	Steve Stillson is the President of the United States of America inward a Stephen King novel.
Rainbird Pharmacy LLC	DE	5776080	Corporation Service Company	John Rainbird is a Vietnam Veteran inward a Stephen King novel.
Longmont Pharmacy, LLC	DE	5776083	Corporation Service Company	Longmont VA is a place inward the Stephen King novel, The Shop.
Dawes Pharmacy, LLC	DE	5776086	Corporation Service Company	Barton George Dawes is to a greater extent than or less other Stephen King character.
Castle Rock Pharmacy, LLC	DE	5776088	Corporation Service Company	Castle Rock Maine is a place of paranormal activity. I approximate similar a Valeant pharmacy.
The Shop Pharmacy, LLC	DE	5776089	Corporation Service Company	The Shop is a hugger-mugger Government Agency inward Stephen King novels. I approximate this is a hugger-mugger Valeant agency.
Cambers Pharmacy, LLC	DE	5776096	Corporation Service Company	Joe Cambers, a Stephen King grapheme runs an auto-repair store inward Castle Rock. Probably to a greater extent than or less other paranormal shop.
McGee's Pharmacy, LLC	DE	5776099	Corporation Service Company	Charlie McGee, a Stephen King character, has pyrokinetic powers - maybe they include ripping off insurance companies.
Juco Pharmacy, LLC	DE	5776103	Corporation Service Company	A nickname for Joe Cambers rabid work solid unit of measurement dog.
Roland's Pharmacy LLC	DE	5776108	Corporation Service Company	Roland Deschain, a major Stephen King character.
Tower Pharmacy, LLC	DE	5776110	Corporation Service Company	Possibly a reference to The Dark Tower, a Stephen King novel.
Hawkmarten Pharmacy, LLC	DE	5776111	Corporation Service Company	We intend this is i of the many aliases of Joe Flagg. Suggestions accepted.
Carrietta Pharmacy, LLC	DE	5776115	Corporation Service Company	The total starting fourth dimension advert of Carrie, of the infamous Stephen King novel.
PBG RX Pharmacy, LLC	DE	5794828	Corporation Service Company	We receive got non found the reference here. The registration details brand us intend it is related.
Decker Pharmacies, LLC	DE	5794834	Corporation Service Company	Another reference to Decker.
French Landing Pharmacies, LLC	DE	5794836	Corporation Service Company	Another reference to French Landing.
NC3 Pharmacies, LLC	DE	5794839	Corporation Service Company	See the inward a higher house chess reference.
C-K Pharmacy, LLC	DE	5794840	Corporation Service Company	See the inward a higher house chess reference.
ELO Pharmacies, LLC	DE	5794842	Corporation Service Company	See the inward a higher house chess reference.
Roland's Pharmacies, LLC	DE	5794844	Corporation Service Company	See the inward a higher house reference to Roland Deschain.
Hemingford Pharmacies, LLC	DE	5794849	Corporation Service Company	See the inward a higher house reference to Hemingford Home
Flagg Pharmacies, LLC	DE	5794852	Corporation Service Company	Joe Flagg again.
Overlook Pharmacies, LLC	DE	5794854	Corporation Service Company	The hotel inward the Shining again. Do nosotros run across a recurring theme.
Fischer Pharmacy Holdings LLC	DE	5805160	Corporation Service Company	Surely a reference to Bobby Fisher, footing Chess Champion

We are simply playing amongst i State here.

There are pharmacies inward other states. And they are all nosotros intend related to Valeant.

But hither is the gem. The registration of faux pharmacies continued AFTER Philidor was exposed together with subsequently Valeant said that they would halt doing work organisation amongst Philidor.

And the people on registration documents are also frequently on the pay ringlet of Valeant (not Philidor).

I promise the longs tin explicate that inconvenient fact away - because it is non obvious how yous create that.





John