May 2, 2017 / 2:39 PM / in 7 months

BUZZ-Valeant Pharmaceuticals: CEO says on course to debt repayment target

** Embattled Canadian drugmaker’s U.S. shares rise as much as 8.6 pct to $10.49, biggest intraday pct gain in nearly 4 months

** Shares were up about 6 pct at 10.24 in late morning trading; Toronto-listed shares were also up 6 pct at C$14.03

** VRX is on pace to meeting its target of repaying $5 bln in debt between Aug 2016 and Feb 2018, CEO Joe Papa told shareholders

** Company had about $30 bln in long-term debt as of Dec. 31

** Up to Monday’s close, the U.S.-listed stock had fallen about 71 pct in the last 12 months

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