BRIEF-Valeant updates on settlement agreements related to Salix unit

Tue Aug 9, 2016 6:00pm EDT
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Aug 9 (Reuters) - Valeant Pharmaceuticals

* Estimated legal liability, initially measured at fair value on date of Salix acquisition, should be reduced by $39 million

* Co and the states have executed settlement agreements concerning the states' portion of the settlement related to Salix

* Pursuant to terms of agreements, co will make a payment of about $8 million plus interest by august 18, 2016

* Following execution of settlement concerning federal claims against Salix, co concluded its estimated legal liability relating to this matter

* Adjustment was recorded in other income in Q2 of 2016 in the co's consolidated statement of loss Source text: Further company coverage: