Valeant gets notice of default from bondholders

Canadian pharma company Valeant Pharmaceuticals International Inc. received a notice of default from bondholders for the delay in filing its first-quarter report for 2016.

The company stated that it could avert default by filing the report by 18 July 2016.

Previously, Valeant had said it expected to file the report with U.S. and Canadian regulators on or before 10 June 2016, ahead of a 31 July deadline.

Valeant’s growth through acquisitions made it one of the pharmaceutical industry’s most widely owned stocks but its prospects were affected on accounting scandals, questionable business practices and lawmaker’s concerns about sharp price hikes on its products.

Source: Reuters

Advertisements

One thought on “Valeant gets notice of default from bondholders

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s