Valeant receives default notice from bondholders regarding 10-K filing delay

Valeant Pharmaceuticals International announced in a press release that it has received a default notice from holders of its 5.5% Notes due 2023 as a result of the company’s delay in filing its form 10-K for the fiscal year ending Dec. 31, 2015.The company has 60 days from the receipt of the notice to file the 10-K, “which will cure the default in all respects. The company is working diligently and is on schedule to file its 10-K on or before April 29,” according to the release.