Valeant Pharmaceutical to file report with regulators

Valeant filed 2015 report last month, allaying concerns about a possible default on debt

Traders by a monitor displaying Valeant Pharmaceuticals International signage at the New York Stock Exchange. Photograph: Michael Nagle/Bloomberg

Valeant Pharmaceuticals said yesterday it expected to file its first-quarter report with US and Canadian regulators on or before June 10th.

Valeant filed its 2015 financial report last month, allaying concerns about a possible default on debt of more than $30 billion. It missed an original March 15th deadline to file its annual report, citing an in-house review of its accounting practices. The company, which also reiterated its first-quarter revenue and adjusted earnings forecasts, is under scrutiny from the US Congress, prosecutors and regulators over its drug pricing, business practices and accounting.

It said in March it expected first-quarter adjusted earnings of $1.30-$1.55 per share and revenue to be $2.3 billion-$2.4 billion. Analysts expect earnings of $1.36 per share and revenue of $2.36 billion. – (Reuters)