OREANDA-NEWS. Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) ("Valeant" or the "Company") today announced that on June 2, 2016 it received a notice of default from the trustee under two of its senior note indentures as a result of the delay in Valeant filing its Form 10-Q for the period ended March 31, 2016.  The notice of default does not result in the acceleration of any indebtedness of Valeant or any of its subsidiaries.

Under its senior note indentures, Valeant has 60 days from the receipt of the notice to file the Form 10-Q, which will cure the default under the related indenture in all respects. As announced on May 9, 2016, Valeant expects to file the Form 10-Q with the Securities and Exchange Commission and the Canadian Securities Regulators on or before June 10, 2016, which would be well in advance of the 60-day cure date.

About Valeant

Valeant Pharmaceuticals International, Inc. (NYSE/TSX:VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, gastrointestinal disorders, eye health, neurology and branded generics. 

Valeant Pharmaceuticals International, Inc.