Valeant does not pay its vendors

Valeant is a shameless company and so are the folks who work there. Vendors are complaining that Valeant has not paid them in some cases for the work that has been done since a year. Valeant is defaulting on payments to vendors, there is no system and process that is followed, accounts payable does not know anything and the concerned department heads have no clue as they just go to Valeant to pass time, they do everything except work! Not understanding how Valeant can keep on buying companies after companies when their own house is in shambles!!!

 

You will never get paid unless you have leverage over MP. Fact of doing business with MP. Wake up and get some leverage.

 

Precisely. What do you expect from a guy who is so "thrifty" that he refuses to pay for his own sandwich?

 

MP enjoys seeing you writh and twist in the wind then laughs about you and called you names. Vendors are to be exploited and walked on. Till he needs you. If he never does you are viewed as garbage. Great long term business model.

 

Not only MP but everyone working at Valeant see vendors as garbage and their servants. But this is not going to go on for long and it will take one vendor the courage to just expose these bastards out in the open.

 

hmmm. sounds just like the real original corporate Commodore (remember them?). yah, they ended up going bankrupt in 1994 after doing business the "Mike Pearson" way.
Different business sector (computer tech instead od pharma) but still just the same.
Mighty fine way of doing business (NOT) because one ends up pissing EVERYBODY OFF...suppliers, employees, competitors, the money lenders,....EVERYONE.
GOOD LUCK holding the bag after all is said and done.

 

So embarrassing to work for a company that doesn't pay it's vendors. I loved the company I used to work for before Valeant bought us. So sad to see what is happening to our legacy. We have less resources, but are expected to sell more product, makes it difficult to have passion about my job. It's just going to keep getting harder. I hope Valeant doesn't do this to Allergan!!

 

They pay just as late as they can

 

What sucks is when the vendors start calling employees to see if they can get someone to write a check. Pretty damn sad when bill collectors start harrassing employees.

 

It is not in the best interest of our shareholders to pay our vendors. We can use the money to buy more companies to increase more shareholder value.

M.P.

 

We are 9 months past due and they do not care.

 

Suck it up butt munch, your beat for the money.

 

This is all crap. Valeant pays it's bills otherwise it would not remain in business

 

Yes valeant does pay after 7 months or the cable/internet is turned off..............witness medcis

 

All the vendors can provide evidence when actually they get paid. If Valeant wants it then we vendors will be happy to provide evidence in this forum. I think the vendors have been extremely gracious with Valeant by not exposing these cheats. Some of the vendors are still waiting to get their dues settled even after 12 months have passed. Valeant are the crooks of the highest order and everyone in the industry is well aware of that!

 

Probably not being paid, because they laid-off all those that pay the bills!

 

There are reporters seeking info from Valeant vendors who have been jerked around for months on payment.

 

Maybe can be a companion piece to the last Valeant article run in the NY Times surrounding drug safety.

For you non-believers, it is very true. Not only are vendors not paid on time but laid off employees are also jerked around with the timeliness of severance payouts. Can take months whereas the signed agreement states a date within 30 days of lay-off. Folks are afraid to speak up in fear of never getting a dime. Same can be said for the vendors.

 

How bout telling laid off coworker COBRA was 400 a month then sending them a bill for $3k a month? ERISA violations?

 

It is not only Valeant not paying laid off employees, but Valeant has violated rules and regulations on all fronts. More fuel is then added by the current foolish staff that continue to work in Valeant, who are not only big morons but are also inept and incompetent to say the least.