Valeant Shares Rise As It Makes Progress on Debt -- Market Talk

Features Dow Jones Newswires

8:04 ET - Shares of Valeant Pharmaceuticals International jump 12% premarket as the company said it had reduced its debt load faster than expected. Valeant has used divestitures, such as the sale of Sprout Pharmaceuticals announced Monday, and the use of free cash flow to reduce its total debt by $6B since the end of the 1Q 2016. Valeant's long-term debt now stands at $27.14B. Shares are trading around $13.50 each, down from more than $100 in January 2016. (austen.hufford@wsj.com; @austenhufford)

Continue Reading Below

(END) Dow Jones Newswires

November 07, 2017 08:21 ET (13:21 GMT)