Valeant Corrects Inaccurate Statements Regarding Calcium Disodium Versenate (CDV)
October 21, 2016
Recent statements have falsely asserted that Valeant sells a “leading treatment” for children poisoned by lead in Flint, Michigan.
Calcium Disodium Versenate (CDV) is a sterile, injectable formulation of Calcium EDTA that is used to treat acute cases of lead poisoning and lead encephalopathy. Contrary to recent statements and media reports linking this product to the Flint water crisis, CDV is not used to treat elevated levels of lead in the blood that result from the chronic low-level lead exposure like that reportedly experienced in Flint, Michigan.
As reported in the Detroit News on October 21, 2016: “Flint pediatrician Dr. Mona Hanna-Attisha, who sounded the alarm over the city’s lead problem, said Calcium Disodium Versenate is not an appropriate treatment for children like those in Flint who were exposed to low levels of lead in their drinking water over a long period of time.”
While Valeant does not sell a product that can treat chronic asymptomatic exposure to lead, our thoughts are with the people of Flint who have been adversely affected by the wide-scale mismanagement that led to the water crisis. We have been in touch with Congressman Kildee’s office to correct any misunderstanding about the clinical efficacy of our product and have offered our assistance should there be a patient with acute symptomatic lead poising who requires CDV.
With respect to concerns about the list price of CDV, past price actions enabled the provision of consistent supply of a product with high carrying costs and very limited purchase volume of 200-300 units per year. The list price of CDV does not reflect the actual cost of the product to hospitals that purchase it, after rebates and other adjustments. Because CDV has a relatively limited shelf life and the minimum CDV purchase requirement for Valeant is roughly 3-5 times higher than recent annual sales volume, we have written down at our own expense approximately half of purchased quantities in the past few years. The company does not generate material revenue from this product, which represents less than 0.01% of our total revenue.