Valeant Pharmaceuticals Receives Notice Of Default From Bondholders Due To Delayed 10-K Filing
As previously announced, the Ad Hoc Committee of the board of directors has completed its review of various Philidor and related accounting matters and has not identified any additional items that would require restatements beyond those required by matters previously disclosed. The Company is in the process of restating the affected financial statements, and the restated financial statements will be included in the Company's Form 10-K for the fiscal year ended December 31, 2015, which the Company intends to file with the Securities and Exchange Commission and the Canadian Securities Regulators on or before April 29, 2016.
Valeant Pharmaceuticals International, Inc. (NYSE/TSX:VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, gastrointestinal disorder, eye health, neurology and branded generics. More information about Valeant can be found at www.valeant.com.
This press release may contain forward-looking statements, including, but not limited to, statements regarding the timing with respect to the filing of the Company's Form 10-K for the fiscal year ended December 31, 2015. Forward-looking statements may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in the Company's most recent annual or quarterly report and detailed from time to time in Valeant's other filings with the Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Valeant undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes, unless required by law.