On Thursday, Valeant Pharmaceutical’s CEO will testify before Congress on his company’s drug pricing practices.

You can expect there to be some heated words from the bipartisan committee, which is helmed by Rep. Elijah E. Cummings, (D-MD).

Before the hearing, Cummings’ office dropped a memo quoting a bunch of internal Valeant e-mails, confirming what everyone on Wall Street who rode the stock up over the last few years refused to believe — that the company’s business model was completely dependent on drug price increases.

Valeant was a hedge fund darling until October, when criticism over its drug pricing practices and accusations of read more >>>

Source : BusinessInsider.Com