Morning Briefing
Summaries of health policy coverage from major news organizations
Newly Released Records Highlight Valeant's Operations
USA Today: New Records Shed Light On Valeant's Operations
Shares of Valeant Pharmaceuticals International sank again Monday, as newly released records shed light on the embattled drugmaker's operations and the company said it would file its quarterly financial report by June 10. The Canada-based company's stock closed down 6.0% at $28.09. The shares have lost roughly 89.3% of their value since early August amid criticism and investigations of Valeant's drug-pricing and distribution policies. (McCoy, 5/9)
The Wall Street Journal: Valeant Expects To File First-Quarter Earnings Before Default Deadline
Valeant Pharmaceuticals International Inc. on Monday said it expects to report its first-quarter earnings earlier than its deadline to avoid defaulting on its debt agreements. The Canadian drug company said it would file its latest 10-Q by June 10, ahead of the July 31 deadline stipulated in the company’s amended credit agreement. Valeant also said it expects to file quarterly filings for the current quarter, which ends June 30—and quarterly filings thereafter—“on a timely basis.” (Steele, 5/9)
In other news —
The Wall Street Journal: Allergan’s Uterine Fibroids Treatment Shows Efficacy
Allergan PLC and Gedeon Richter PLC on Monday said a late-stage study of ulipristal acetate in women with uterine fibroids met all of its endpoints. Shares rose 6.8% to $215.25 in midday trading, though they are still down 8.7% over the past month. The pharmaceutical companies said patients being treated with the drug showed a statistically significant absence of uterine bleeding. (Steele, 5/9)
