BUZZ-Valeant: Falls after slashing forecast again

Tue Jun 7, 2016 6:58am EDT
 
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** New York-listed shares of troubled Canadian drugmaker down 10.9 pct at $25.70, set to open at two-week low

** Posts lower-than-expected Q1 profit, hurt by challenges in dermatology unit (bit.ly/1Zu6unQ)

** Slashes FY revenue and adjusted profit guidance for second time this year

** Newly appointed CEO Joseph Papa says majority of business "performing according to expectations"

** Company, under scrutiny for its business and accounting practices, and under pressure to file its quarterly report on time, says it will file results in "timely manner" going forward

** Valeant's U.S.-listed stock down nearly 72 pct YTD through Monday and down 89 pct from August record high of $263.81