Valeant says that SEC suggested changes in tax accounting

Tue Mar 15, 2016 9:34am EDT
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NEW YORK, March 15 (Reuters) - Valeant Pharmaceuticals International said on Tuesday that it was making changes to the way it accounts its tax rate at the suggestion of the Securities and Exchange Commission.

Valeant CEO Michael Pearson said during an analyst conference call that the SEC had made the suggestion as part of regular communication and that it was not part of an investigation into the company. It will result in the presentation of a higher tax rate, but no change to cash flow, he said. (Reporting by Caroline Humer; Editing by Chizu Nomiyama)