Valeant Raises Prices On Certain Products

(RTTNews) - Valeant Pharmaceuticals International Inc. (VRX) Friday announced increase in prices on its neurology, gastrointestinal disorder and urology portfolios by 2 to 9 percent.

The company said there will be no price increases on dermatology and eye health products this year.

The company said the increases are in line with the Committee's commitment that the average annual price increase for Valeant's prescription pharmaceutical products will be set at no greater than single digits and below the 5-year weighted average of the increases within the branded biopharmaceutical industry.

"We are committed to ensuring that past decisions with respect to product pricing are not repeated and that the investments we make in our R&D pipeline continue to result in innovative products that improve people's lives," said Joseph Papa, chief executive officer.