BUZZ-Valeant Pharmaceuticals International Inc: Hits 3-year low

Tue Mar 1, 2016 10:18am EST
 
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** Canadian drugmaker's U.S.-listed shares fall as much as 6.6 pct to hit more than three-year low of $61.43; Toronto-listed shares down 9.8 pct at $84.76

** Drugmaker says that it was investigated by the U.S. Securities and Exchange Commission

** Valeant spokeswoman said the company confirmed that it "received a subpoena from the SEC in the fourth quarter of 2015 and, in the normal course, would have included this disclosure in its 2015 10-K. We do not have further detail to provide at this time."

** News of the probe comes a day after the company canceled release of Q4 earnings, withdrew 2016 financial guidance and said its chief executive had returned from medical leave

** More than 838,000 shares traded by 10.01 a.m. ET, 0.7 times their 30-day moving average

** Up to Monday's close, stock had fallen 35 pct this year