Valeant To Release Fourth-quarter Numbers, Outlook On March 15

By Markets MarketWatch Pulse

Valeant Pharmaceuticals International Inc. said Monday it will hold a conference call and live webcast on March 15 to disclose its preliminary fourth-quarter earnings and update investors on its outlook for 2016. The company was originally scheduled to release fourth-quarter earnings on Feb. 29, but announced the evening before that it was delaying their release and withdrawing its 2016 guidance. The same day, the company said it was being investigated by the Securities and Exchange Commission. It also disclosed investigations from U.S. Attorney's offices in New York and Massachusetts and from Congress. Chief Executive Micheal Pearson returned to work after a two-month medical leave. "Now that I have returned, I have been working diligently to review the business so that I can share our latest performance and outlook with shareholders," Pearson said in a statement Monday. Shares rose 2.8% in premarket trade, but are down 69% in the last 12 months as the company has struggled with questions about its drug pricing and accounting practices, while the S&P 500 has lost 3.4%.

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