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Company News

BUZZ-Valeant: Jumps on chances of early debt repayment

** U.S.-listed shares of Canadian drugmaker jump 8.5 pct to $16.68 in heavy premarket trading

** If current gains hold, stock is on track for its biggest one-day pct gain since June

** Co reports Q2 profit above analysts’ estimates, says likely to repay more than $5 bln debt earlier than targeted

** Co has been reducing debt by selling off non-core businesses; long-term debt stands at $28.5 bln as of June 30

** Q2 revenue up 7.8 pct helped by demand for irritable bowel syndrome drug Xifaxan

** Up to Monday’s close, Valeant’s stock had risen about 5.8 pct this year after suffering losses for two straight years

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