May 9, 2017 / 11:59 AM / in 7 months

BUZZ-Valeant Pharmaceuticals: Raises FY EBITDA forecast

** Embattled Canadian drugmaker’s shares up 14 pct at $11.10

** Reports first-quarter profit, its first in six quarters, due to one-time income tax gain; raises 2017 adjusted EBITDA forecast

** Says cut debt by $1.3 billion in the latest quarter; long-term debt at $28.54 billion as of March 31

** Up to Monday’s close, stock had fallen 33 pct YTD

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