August 12, 2016 / 1:22 PM / a year ago

BUZZ-Concordia International: Set to fall to near 2-1/2 yr low

** Canadian drug maker’s U.S.-listed shares down 20.5 pct at $13.01 premarket; Set to fall to near 2-1/2 year low

** The company cut its 2016 revenue and adjusted EBITDA forecast due to increased competition in North America and stronger U.S. dollar

** Company also suspends dividend of $0.75/shr and appoints Edward Borkowski as Chief Financial Officer, replacing Adrian de Saldanha

** Concordia posts smaller-than-expected Q2 loss, hurt by higher expenses

** Up to Thursday’s close, stock had fallen 60 pct this year

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