Valeant Pharma Unveils Enhanced Rebate Program For Nitopress, Isuprel

(RTTNews) - Valeant Pharmaceuticals International Inc. (VRX, VRX.TO) said following a recommendation by its Patient Access and Pricing Committee, it will make available to all hospitals in the U.S. an enhanced rebate program to reduce the price of Nitropress and Isuprel.

Under the enhanced program, all hospitals are eligible for a rebate of at least 10 percent, with rebates totaling 20 percent, 30 percent or 40 percent based on volume purchased during a calendar quarter for hospitals that purchase large volumes of the relevant drug.

Hospitals will receive these discounts primarily through their group purchasing organization or GPO. Hospitals that do not buy drugs through a GPO can access the program by contacting Valeant customer service.

Valeant Pharma noted that the rebate program is effective immediately, with hospitals receiving rebates after the end of the quarter in which the purchases were made. The company's Patient Access and Pricing Committee also confirmed that there would be no further price increases for these products or reductions to the discount levels in the rebate program.