Valeant Pharmaceuticals Intl Inc (VRX) Soars As Debt Deal Reached

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Mani
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Valeant

Valeant Pharmaceuticals Intl Inc (VRX) obtained consent from over half of loan holders to push back regulatory filing deadlines and loosen financial conditions on the loans. The week marks a series of positive developments for the struggling drug maker and, mirroring the positive developments, Valeant shares surged $5.44, or 19% Wednesday to close at $34.17, making the latest increase the biggest one-day percentage jump since Sept. 9, 2005. Shares are up again about 7 percent today on news that it secured a commitment from loan holders to amend terms of its debt, buying time as the drugmaker attempts to resuscitate itself. Valeant…

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Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports