Valeant gets extra month from lenders to file annual report

Valeant Pharmaceuticals International said its lenders had agreed to give it an extra month to file its annual report, providing further reassurance to investors as the company attempts to win back their confidence.

The extensions provide relief if Valeant is unable to file its annual report by April 29th, a deadline the company reiterated that it intended to meet.

The Canadian company said last week it had asked its lenders for another month to file the report, seeking to reduce the risk of a default on its $30 billion debt if it missed the deadline.

Valeant, whose US shares were up about 8 per cent in premarket trading, said its lenders had agreed to a May 31st deadline for the report. “The company...remains well positioned to meet its obligations,” Valeant said, repeating a statement it made last week.

– (Reuters)