As Joe Papa begins the difficult task this week of reviving Valeant Pharmaceuticals, he may want to start by repairing relations with hospitals.
The drug maker angered many hospital officials early last year by suddenly boosting prices for a pair of important heart drugs for which few good alternatives are available. On the day that Valeant bought the drugs — Nitropress and Isuprel — from another drug maker, prices rose by 525 percent and 212 percent, respectively.
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