Valeant Says Has Received Additional Notices Of Default Due To Delayed 10-K Filing

Valeant Pharmaceuticals International Inc. said Monday it has received additional notices of default on its debt due to the delayed filing of its 10-K. In a filing with the Securities and Exchange Commission, the company said it had received notices on a series of notes due 2020, 2021 and 2022. The company has until June 21, or 60 days from receipt of the notices, to file its 10-K, which would cure the default. The company had announced on April 12 the first receipt of a notice of default on notes due 2023, and in that instance, has until June 11 to file the form. "The company is working diligently and is on schedule to file its Form 10-K on or before April 29, 2016," it said in the filing. Shares were trading up 4.5% in premarket trade, after news that Joseph Papa has resigned as CEO of Perrigo Co. Plc. The Wall Street Journal has reported that Valeant wants to make Papa its CEO.

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