Valeant gets additional notices of default from bondholders

Fri Apr 22, 2016 6:14pm EDT
 
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April 22 (Reuters) - Canadian drugmaker Valeant Pharmaceuticals International Inc said it received additional notices of default from its bondholders as a result of a delay in filing its annual report.

Valeant said on Friday it had until June 21 to file the report under its bond agreements, but reiterated its intention to file it on or before April 29.

The notices do not accelerate its indebtedness, the company said.

The Quebec-based drugmaker said last week it had received a notice of default from its bondholders.

Valeant has said it risked defaulting on its $30 billion debt if it missed the April 29 deadline. The company has since received an extra month from its lenders to file the annual report.

The company has faced intense scrutiny and U.S. congressional investigations over its steep price increases for older medicines as well as for other questionable business and accounting practices. (Reporting by Rosmi Shaji in Bengaluru; Editing by Sriraj Kalluvila)