Shares of Valeant Pharmaceuticals International Inc. tanked Thursday on a report from Dow Jones Newswires that CVS Health Corp. terminated Philidor, a pharmacy associated with Valeant, from its Caremark program. CVS made the decision following an audit of Philidor and cited “noncompliance” with its provider agreement, Dow Jones said. Short-seller Andrew Left last week alleged that Valeant was using Philidor as a front for fraudulent activities to inflate its results. Valeant has denied the allegations. Valeant shares slumped 5.9% to $110.01 and CVS shares rose 0.4% to $104.18.
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