Valeant gets deadline extended for filing annual report
Valeant Pharmaceuticals International Inc. said late Monday it entered an agreement that allows it to extend the deadline for filing its annual report. Valeant fell under close scrutiny after the drug maker said in mid-March it still hadn't filed its annual report with the Securities and Exchange Commission, putting it in jeopardy of having creditors calling for an early repayment of debt. In a Monday SEC filing, Valeant said it reached an agreement with creditors to extend the annual report filing deadline to May 31. Among restrictions in the agreement, Valeant's interest rate goes up by 100 basis points until the report is filed. Valeant shares advanced 0.6% to $31.56 after hours.
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