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December 15, 2015.
Valeant Pharmaceuticals (Laval, Canada) has announced new fulfillment agreements with drugstore chain Walgreens (Deerfield, IL) and indicated that it intends to extend this distribution model to additional participating independent retail pharmacies.
Valeant will reduce prices of its branded prescription-based dermatological and ophthalmological products by 10 per cent, enabling consumers to access these products at a lower out-of-pocket cost from more than 8,000 Walgreens U.S retail pharmacy locations. The reduced pricing will apply to the wholesale list prices of these products and will be phased in over the next six to nine months.
Walgreens and Valeant also entered into a separate agreement under which Valeant will distribute more than 30 branded products, where generics are available, in the dermatology, ophthalmology, gastrointestinal and neurology/other therapeutic areas through Walgreens at generic prices.
Valeant reports that it expects the price decreases across both programs to provide up to $600 million in annual savings to the healthcare system.