Valeant Says Q4 Got Off To a Strong Start, Reaffirms Outlook

Valeant Pharmaceuticals Inc. said Monday that the fourth quarter got off to a strong start, reaffirming its outlook for the quarter and for 2016 earnings before interest, taxes, depreciation and amortization of $7.5 billion (EBITDA), excluding any one-time costs that may turn up following recent events. "We are not anticipating any impact, but it is hard to predict how recent events will impact the business in the short term," the company said in a special presentation to investors to address recent allegations of accounting issues. The company said it is still committed to reducing leverage to 4.0 times adjusted pro forma EBITDA by the end of 2016. The company has no meaningful debt maturing until 2018. Shares were down 5.7% in premarket trade.

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