From day one, Philidor has been focused on providing patients the medication their doctors say they need quickly and efficiently. We remain steadfast that Philidor has adhered not only to all applicable laws but to the highest standards of ethical business practice. Despite Philidor's best efforts to communicate this, Philidor's principal client, Valeant, has decided to end its relationship with Philidor.
Philidor CEO Andrew Davenport distributed a letter to Philidor's employees earlier today, thanking them for their ongoing support and outlining a plan for the coming days and weeks. Sadly, that plan includes the wind-down of Philidor's principal operations. Philidor remains committed to its employees and will support them as they search for new opportunities.
Philidor has and will continue to remain committed to the thousands of patients it has helped over the past two years. In keeping with Philidor's guiding principles, it will ensure that patients receive the highest level of service during the orderly wind-down of operations.
Philidor is working cooperatively with Valeant over the next 30 to 90 days to proactively assist patients in transferring their prescriptions to other pharmacies, ensuring continuity of care. During this period, Philidor will fill, as prescribed, all prescriptions for the next week and may continue to dispense certain prescriptions beyond that.
Philidor's leadership team thanks its employees and patients for their support.