Valeant Pharma Receives Notice Of Default; To File Form 10-Q By June 10

(RTTNews) - Valeant Pharmaceuticals International, Inc. (VRX, VRX.TO) announced it has received a notice of default from the trustee under two of its senior note indentures as a result of the delay in filing Form 10-Q for the period ended March 31, 2016. The company said it expects to file the Form 10-Q with the SEC and the Canadian Securities Regulators on or before June 10, 2016, which would be well in advance of the 60-day cure date.

The company noted that the notice of default does not result in the acceleration of any indebtedness of Valeant or any of its subsidiaries.