Valeant Pharmaceuticals to Answer Questions About Business Model

Valeant Pharmaceuticals (VRX) is facing the heat today as it holds a conference call to answer questions regarding its business practices. In the past week, questions have emerged about its business practices that surprised investors and analysts who follow the drug maker. The market's response was punishing. The company's stock plummeted erasing $20 billion in market value in 5 days. At the center of the allegations is a previously unknown web of specialty pharmacies that distribute its drugs directly to customers at a discounted co-pay rate, bypassing insurers. The United Auto Workers and General Motors (GM) have reached a tentative agreement, averting a strike minutes before the midnight deadline. Few details were released but the union statement said it 'secured significant gains and job security protections'. The contract goes to union membership for a vote. Keurig Green Mountain (GMCR) plans to import coffee beans into the United States through duty free sites as it tries to cut costs amid falling sales of its pods and brewers.