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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. 


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.

EntityStateEntity IDRegistered AgentNotes
Fifty Moves, LLCDE5640758Corporation Service CompanyChess term: Fifty Move Rule
ELO Pharmacy, LLCDE5762328Corporation Trust CompanyChess term: ELO ranking system
C-K Pharmacies, LLCDE5762330Corporation Trust CompanyChess term: The Caro-Kahn defence
Tarrasch Pharmacy Holdings, LLCDE5762881Corporation Trust CompanyChess term: Tarrasch was a neat player
NC3 Pharmacy, LLCDE5770687Corporation Service CompanyChess term: The rarely used Dunst Opening
Lasker Pharmacies, LLCDE5770702Corporation Service CompanyChess term: After the neat part instrumentalist together with theorist Emmanuel Lasker.
B&W Pharmacies, LLCDE5770706Corporation Service CompanyBlack together with White: the green colours of chess pieces.
NC3 Pharmacy Holdings, LLCDE5770708Corporation Service CompanyAnother Dunst Opening reference
Knight & Knight Pharmacies, LLCDE5770718Corporation Service CompanyChess Knights I presume.
First Rank Pharmacies, LLCDE5770741Corporation Service CompanyAnother entity is called "Back Rank: to a greater extent than or less other chess term.
Forsta, LLCDE5774549A 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, LLCDE5775980Corporation Service CompanyNamed for a favourite Stephen King location...
Mears Pharmacy, LLCDE5775991Corporation Service CompanyNamed for a repeated Stephen King character...
Marsten House Pharmacy, LLCDE5775997Corporation Service CompanyNamed for a key place inward Salem's Lot. Notably a symbol of evil.
Torrance Pharmacy, LLCDE5776000Corporation Service CompanyNamed for key characters inward The Shining.
Overlook Pharmacy, LLCDE5776004Corporation Service CompanyThe Hotel inward The Shining.
Topiary Pharmacy, LLCDE5776008Corporation Service CompanyTopiary animals inward The Shining.
Hallorann Pharmacy, LLCDE5776022Corporation Service CompanyNamed for the chef at the Overlook Hotel inward The Shining.
Decker Pharmacy, LLCDE5776025Corporation Service CompanyPossibly named for another Stephen King character...
Twinner's Pharmacy, LLCDE5776026Corporation Service CompanyNamed for Stephen King's repeated doppleganger meme.
Parkus Pharmacy, LLCDE5776027Corporation Service CompanyA Stephen King grapheme inward The Talisman.
Halleck's Pharmacy, LLCDE5776029Corporation Service CompanyNamed for to a greater extent than or less other major Stephen King Character.
Flagg Pharmacy, LLCDE5776032Corporation Service CompanyRandall Flagg is a major Stephen King Character
Derry Pharmacy, LLCDE5776033Derry is a repeated place inward Stephen King novels.
Pennywise Pharmacy, LLCDE5776037Corporation Service CompanyPennywise the Clown is a recurring Stephen King character.
Plymouth Pharmacy, LLCDE5776038Corporation Service CompanyThe iconic Stephen King car inward The Shining together with others was a Plymouth.
Hanscom Pharmacy, LLCDE5776039Corporation Service CompanyFrom Ben Hanscom, a Stephen King character
Trips Pharmacy, LLCDE5776042Corporation Service CompanyFrom Captain Trips, a virus that exterminates nigh the human population inward The Stand, a Stephen King novel.
Delain Pharmacy, LLCDE5776044Corporation Service CompanyFrom Delain, a mythical Stephen King domain.
Creed Pharmacy, LLCDE5776045Corporation Service CompanyFrom Louis Creed, the principal grapheme inward a Stephen King novel.
Odetta Pharmacy, LLCDE5776046Corporation Service CompanyFrom Odetta Holmes, a recurring Stephen King character
Hemingford Pharmacy, LLCDE5776047Corporation Service CompanyFrom Hemingford Home, a Stephen King location.
Ludlow Pharmacy, LLCDE5776048Corporation Service CompanyFrom Ludlow Maine, a Stephen King location.
Crandall Pharmacy, LLCDE5776050Corporation Service CompanyFrom Jud Crandall, a Stephen King character.
Sheldon Pharmacy, LLCDE5776053Corporation Service CompanyFrom Paul Sheldon, a major Stephen King character.
Freemantle Pharmacy, LLCDE5776054Corporation Service CompanyFrom Abagail Freemantle, a major Stephen King character.
Revlowe Pharmacy, LLCDE5776055Corporation Service CompanyPresumably from the Reverend Lowe inward the Cycle of the Werewolf.
French Landing Pharmacy, LLCDE5776058Corporation Service CompanyThe place inward Black House, a Stephen King novel.
Wilkes Pharmacy, LLCDE5776059Corporation Service CompanyFrom Annie Wilkes, a Stephen King character.
Henreid Pharmacy, LLCDE5776060Corporation Service CompanyPossibly from Lloyd Henreid, a tike Stephen King character.
Beaumont Pharmacy, LLCDE5776062Corporation Service CompanyFrom Thaddeus Beaumont, to a greater extent than or less other Stephen King character.
Sawyer's Pharmacy, LLCDE5776064Corporation Service CompanyFrom Jack Sawyer, to a greater extent than or less other Stephen King character.
DH Stark Pharmacy, LLCDE5776065Corporation Service CompanyPossibly brusk for Dark Half from the novel of the same title. George Stark is the major character.
Shardik Pharmacy, LLCDE5776066Corporation Service CompanyShardik is i of the twelve guardians of the Beams that agree upwards the Dark Tower (again a Stephen King reference). 
TCM Pharmacy, LLCDE5776067Corporation Service CompanyWe are fairly certain this is associated - but receive got non worked out the link.
Burlingame Pharmacy, LLCDE5776070Corporation Service CompanyJessie Burlingame is a major Stephen King character.
Lauder & Cross Pharmacy, LLCDE5776071Corporation Service CompanyTry these names...
Claiborne Pharmacy, LLCDE5776072Corporation Service CompanyDolores Claiborne is a Stephen King novel.
Edgecombe Pharmacy, LLCDE5776073Corporation Service CompanyFrom Paul Edgecombe, who used to run Death Row inward a Stephen King novel.
Georgia Pines Pharmacy, LLCDE5776074Corporation Service CompanyGeorgia Pines is a retirement domicile inward Stephen King novels.
Garraty Pharmacy, LLCDE5776075Corporation Service CompanyFrom Ray Garraty, to a greater extent than or less other Stephen King character.
Cold Mountain Pharmacy, LLCDE5776076Corporation Service CompanyThe Cold Mountain Penitentiary is where Paul Edgecomb ran expiry row.
Coffey's Pharmacy, LLCDE5776078Corporation Service CompanyJohn Coffey is to a greater extent than or less other Stephen King character.
Stillson Pharmacy, LLCDE5776079Corporation Service CompanySteve Stillson is the President of the United States of America inward a Stephen King novel.
Rainbird Pharmacy LLCDE5776080Corporation Service CompanyJohn Rainbird is a Vietnam Veteran inward a Stephen King novel.
Longmont Pharmacy, LLCDE5776083Corporation Service CompanyLongmont VA is a place inward the Stephen King novel, The Shop.
Dawes Pharmacy, LLCDE5776086Corporation Service CompanyBarton George Dawes is to a greater extent than or less other Stephen King character. 
Castle Rock Pharmacy, LLCDE5776088Corporation Service CompanyCastle Rock Maine is a place of paranormal activity. I approximate similar a Valeant pharmacy. 
The Shop Pharmacy, LLCDE5776089Corporation Service CompanyThe Shop is a hugger-mugger Government Agency inward Stephen King novels. I approximate this is a hugger-mugger Valeant agency.
Cambers Pharmacy, LLCDE5776096Corporation Service CompanyJoe 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, LLCDE5776099Corporation Service CompanyCharlie McGee, a Stephen King character, has pyrokinetic powers - maybe they include ripping off insurance companies.
Juco Pharmacy, LLCDE5776103Corporation Service CompanyA nickname for Joe Cambers rabid work solid unit of measurement dog. 
Roland's Pharmacy LLCDE5776108Corporation Service CompanyRoland Deschain, a major Stephen King character. 
Tower Pharmacy, LLCDE5776110Corporation Service CompanyPossibly a reference to The Dark Tower, a Stephen King novel.
Hawkmarten Pharmacy, LLCDE5776111Corporation Service CompanyWe intend this is i of the many aliases of Joe Flagg. Suggestions accepted. 
Carrietta Pharmacy, LLCDE5776115Corporation Service CompanyThe total starting fourth dimension advert of Carrie, of the infamous Stephen King novel. 
PBG RX Pharmacy, LLCDE5794828Corporation Service CompanyWe receive got non found the reference here. The registration details brand us intend it is related.
Decker Pharmacies, LLCDE5794834Corporation Service CompanyAnother reference to Decker.
French Landing Pharmacies, LLCDE5794836Corporation Service CompanyAnother reference to French Landing.
NC3 Pharmacies, LLCDE5794839Corporation Service CompanySee the inward a higher house chess reference.
C-K Pharmacy, LLCDE5794840Corporation Service CompanySee the inward a higher house chess reference.
ELO Pharmacies, LLCDE5794842Corporation Service CompanySee the inward a higher house chess reference.
Roland's Pharmacies, LLCDE5794844Corporation Service CompanySee the inward a higher house reference to Roland Deschain.
Hemingford Pharmacies, LLCDE5794849Corporation Service CompanySee the inward a higher house reference to Hemingford Home
Flagg Pharmacies, LLCDE5794852Corporation Service CompanyJoe Flagg again.
Overlook Pharmacies, LLCDE5794854Corporation Service CompanyThe hotel inward the Shining again. Do nosotros run across a recurring theme.
Fischer Pharmacy Holdings LLCDE5805160Corporation Service CompanySurely 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


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