Valeant Pharma (VRX) Misses Q4 EPS by 11c; Cuts Q1, FY16 Outlook

Valeant Pharma (VRX) Price Target Lowered to $45 at TD Securities

TD Securities earlier maintained a Hold rating on Valeant Pharmaceuticals (NYSE: VRX) and lowered its price target to $45.00 (from $110.00). The change follows updated guidance announced yesterday.

Analyst Lennox Gibbs said, "This latest revision layers on to an already protracted decline in... More

Valeant (VRX) PT Cut to $40 at Canaccord Genuity

Canaccord Genuity analyst Neil Maruok reiterated a Hold rating and lowered his price target on Valeant Pharmaceuticals (NYSE: VRX) to $40.00 (from $75.00).

Maruok commented, "guidance was even lower than our base-case scenario and we believe has begun to erode investor confidence in Valeants underlying business. We believe that the implementation of the partnership with Walgreens,... More

Valeant (VRX) Default 'Unlikely', Says Rodman & Renshaw

Rodman & Renshaw reiterated a Buy rating on Valeant Pharmaceuticals (NYSE: VRX) with a modified price target of $118.00 (from $150.00). The change follows soft guidance issued yesterday. Analyst Raghurum Selvaraju noted that the stock's plunge was motivated by fear of default, which he sees as unlikely.

Selvaraju explained, "From our perspective, the main hurdle at this juncture for Valeant is the lack of credibility... More

CIBC Downgrades Valeant Pharmaceuticals (VRX) to Sector Underperform

CIBC downgraded Valeant Pharmaceuticals (NYSE: VRX) from Sector Perform to Sector Underperform with a price target of $24.00 (from $90.00).

For an analyst ratings summary and ratings history on Valeant Pharmaceuticals click here. For more ratings news on Valeant Pharmaceuticals click here.

Shares of Valeant Pharmaceuticals closed at $69.04 yesterday.

Valeant Pharma (VRX) Results Suggest Disruption in the Business - Evecore ISI's Raffat

Evercore ISI analyst, Umer Raffat, commented on Valeant Pharma (NYSE: VRX) after the call.

"I think it will be an understatement to say that this has clearly been a very humbling call for me," he said.

".. today's results suggests that while... More

Valeant Pharma (VRX) Conference Call Ends

Valeant Pharma (NYSE: VRX) brutal conference call ends. With shares down 36.7% traders will be looking for the stock to possibly rally later in the session.

Valeant Pharma (VRX) Corrects adj.-EBITDA Guidance Lower to ~$6B on Call

Valeant Pharma (NYSE: VRX) corrected EBITDA guidance for the next four quarters to about $6 billion on its earning call. An earlier release forecast next four quarters (second quarter 2016 first quarter 2017) guidance of about $6.2 - $6.6 billion.

Shares are lower by 36 percent.

Valeant Pharma (VRX) Misses Dramatically Reduced Expectations - BMO

BMO Capital analyst, Alex Arfaei, posted an earnings flash on Valeant Pharmaceuticals' (NYSE: VRX) miss and guide down. The call is ongoing and began at 8:00AM.

This morning, Valeant reported unaudited 4Q15 revenues of $2.78B, 1% above consensus of $2.75B. Gross margin of 75.6%... More

The Single Most Important Catalyst for Valeant Pharma (VRX) Near-Term...

Valeant Pharma (NYSE: VRX) is down 15% after posting unaudited fourth quarter result and disappointing 2016 guidance. However, according to Evecore ISI analyst Umer Raffat, the single most important catalyst for Valeant near-term is timing for covenants/10-K filing to avoid default .

The all-important date of a default is March 30th + 30 days, so April 29.

Covenant... More

Orexigen Therapeutics (OREX) Enters Mysimba Commercialization Agreement with Valeant (VRX)

Orexigen Therapeutics, Inc. (Nasdaq: OREX) announced Valeant Pharmaceuticals International, Inc. will commercialize Mysimba® (naltrexone HCl / bupropion HCl prolonged release) in Central and Eastern Europe. The distribution agreement between Valeant Holdings Ireland and Orexigen's wholly owned subsidiary, Orexigen Therapeutics Ireland Ltd., includes 12 countries where Mysimba has been approved for marketing in the European Union (EU): Greece, Slovenia, Slovakia, Czech Republic, Hungary, Croatia, Lithuania, Estonia, Poland, Latvia, Bulgaria, and Romania. The agreement also extends to several non-EU countries where Valeant will apply for marketing authorization: Serbia, Bosnia and Herzegovina, Albania, Macedonia, Montenegro,... More

Drugmaker Valeant faces debt default risk; shares plunge 50 percent

By Rod Nickel and Caroline Humer

(Reuters) - Valeant Pharmaceuticals International Inc's (NYSE: VRX) shares plunged 50 percent on Tuesday after the company said a delay in filing its annual report put it in danger of a default on its $30 billion in debt.

The news from the Canadian drugmaker, which also slashed its 2016 sales and earnings outlook, prompted Bill Ackman, whose Pershing Square Capital Management is one of Valeant's largest shareholders, to tell investors that he would take a much more active role there.

For years, Valeant was an investor darling, buying... More

Valeant Pharma (VRX) Won't File 10-K Within 15-Day Extension Period

Valeant Pharma (NYSE: VRX) disclosed the following on Tuesday:

Item 2.02 Results of Operations and Financial Condition

On March 15, 2016, Valeant Pharmaceuticals International, Inc. (the Company) issued a press release announcing preliminary unaudited financial results for the fourth quarter ended December 31, 2015. A copy of the press release is attached as Exhibit 99.1 to this report and is incorporated herein by reference.

The fourth quarter 2015 results are preliminary because, as previously announced, the Company has delayed the filing of its Annual Report on Form 10-K for the year ended December 31, 2015 pending completion of the Companys... More