BUZZ-Valeant Pharmaceuticals: Set for worst ever week as creditors pressure

Thu Mar 17, 2016 10:54am EDT
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** Beleaguered Canadian drugmaker's U.S.-listed shares fall as much as 8.6 pct to touch more than 5 year low of $30.66; Set for worst ever week

** Creditors of company beginning to demand new terms that could further pressure its business model

** Stock plunged more than 50 pct on Tuesday after it said a delay in filing its annual report put it in danger of a default on its $30 billion in debt

** Valeant's market value has shriveled to $11.4 billion, as of Wednesday's close, from about $90 bln in August

** Toronto-listed shares were down 8.5 pct at C$40.11

** Up to Wednesday's close, Valeant's U.S.-listed stock had fallen 67 pct this year