Valeant Pharmaceuticals Intl Inc’s (VRX) PAPC Announces Pricing For SILIQ

Valeant Pharmaceuticals Intl Inc (NYSE:VRX) announced that following the evaluation and approval of its Patient Access and Pricing Committee (PAPC), the company has decided to list SILIQ™ (brodalumab) injection, at $3,500 per month, which is the lowest injectable biologic psoriasis treatment currently on the market. SILIQ will also be included in the company’s patient access program to further offer financial support and access to patients.  SILIQ, a monoclonal antibody that targets the IL-17 receptor for patients with moderate-to-severe plaque psoriasis, is indicated for the treatment of moderate to severe plaque psoriasis in adult patients who are candidates for systemic therapy or phototherapy and have failed to respond or have lost response to other systemic therapies. SILIQ is the only product that included the psoriasis area and severity index (PASI 100) during clinical trials as a primary endpoint. The sales and marketing of SILIQ are expected to commence in the U.S. during the second half of 2017.

“The Patient Access and Pricing Committee was constructed to help our company ensure patients have the best possible access to our products. Our goal with SILIQ is to provide outstanding efficacy while being the most affordable injectable biologic for patients with moderate-to-severe plaque psoriasis,” said Joseph Papa, Chairman and CEO of Valeant.

In May 2016, Valeant established the PAPC to be responsible for the pricing of the company’s drugs. The PAPC ensures that Valeant’s pricing, contracting, compliance and reimbursement strategies are consistent and compliant with all relevant laws, regulations and guidance, as well as the company’s position on patient-affordable access to medicines. The Company’s Board of Directors oversees the committee, which is chaired by Papa and includes a multi-disciplinary team of Valeant employees, including doctors, scientists, and other executives.

Shares of Valeant closed yesterday at $8.88, down $0.14 or -1.55%. VRX has a 1-year high of $38.50 and a 1-year low of $8.86. The stock’s 50-day moving average is $10.73 and its 200-day moving average is $15.45.

On the ratings front, Valeant has been the subject of a number of recent research reports. In a report released yesterday, J.P. Morgan analyst Chris Schott reiterated a Hold rating on VRX, with a price target of $10.00, which implies an upside of 13% from current levels. On April 12, Mizuho’s Irina Rivkind Koffler reiterated a Sell rating on the stock and has a price target of $8.00.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Chris Schott and Irina Rivkind Koffler have a yearly average return of 1.4% and 18.8% respectively. Schott has a success rate of 53% and is ranked #2182 out of 4562 analysts, while Koffler has a success rate of 53% and is ranked #114.

Overall, 3 research analysts have rated the stock with a Sell rating, 9 research analysts have assigned a Hold rating and 3 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $14.40 which is 62% above where the stock closed yesterday.

Valeant Pharmaceuticals International, Inc. engages in the development, manufacture, and market of a broad range of pharmaceutical products in the areas of dermatology, gastrointestinal disorders, eye health, neurology and branded generics. It operates through the following segments: The Bausch + Lomb/International, The Branded Rx, and The U.S. Diversified products.


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