Insight and Intelligence on the London & International Insurance Markets 19 Feb 2018

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Drug maker Valeant sues insurers for more than $325mn

  • John Hewitt Jones 23 January 2018
  • Canadian pharmaceutical company Valeant is suing its insurers as it seeks to claw back more than $325mn in costs, as well as unspecified damages, arising from class actions following its attempted acquisition of drug firm Allergan.

    Court documents filed by Valeant in the Superior Court of New Jersey show it held professional indemnity policies for 2013-14 and 2015-16, with cover provided by Lloyd's syndicates and company market insurers.

    The parties initiated mediation at the end of November but Valeant filed...

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