Company Expects to File its 10-Q on or before June 10, 2016, as Previously
Disclosed
LAVAL, Quebec, May 16, 2016 /CNW/ -- Valeant
Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX)
("Valeant" or the "Company") today provided an update on regulatory
matters.
The Company announced that, on May 11,
2016, it applied for a customary management cease trade
order ("MCTO") from the Autorité des marchés financiers (the
"AMF"), the Company's principal securities regulator in
Canada, relating to the trading in
securities of the Company by the Company's CEO and CFO and each
other member of the Company's board of directors. The Company has
been advised by the AMF that the MCTO will be dated and published
on May 17, 2016. The ability of
other shareholders to trade in the securities of the Company will
not be affected by the MCTO.
The MCTO application was made in connection with the Company's
previously announced delay in filing its interim financial
statements for the quarter ended March 31,
2016, the related management's discussion and analysis and
certificates of its CEO and CFO (collectively, the "Canadian
Required Filings") with Canadian securities regulators until after
the May 15, 2016 filing
deadline. The Company expects to make the Canadian Required
Filings on or before June 10,
2016.
The Company intends to comply with the provisions of the
alternative information guidelines set out in Canadian National
Policy 12-203 Cease Trade Orders for Continuous Disclosure
Defaults by providing bi-weekly updates by way of news
release until the Canadian Required Filings have been made.
About Valeant
Valeant Pharmaceuticals International, Inc. (NYSE/TSX:VRX) is a
multinational specialty pharmaceutical company that develops,
manufactures and markets a broad range of pharmaceutical products
primarily in the areas of dermatology, gastrointestinal disorder,
eye health, neurology and branded generics. More information about
Valeant can be found at www.valeant.com.
Forward-looking Statements
This press release may contain forward-looking statements,
including, but not limited to, expectations with respect to the
timing of making the Canadian Required Filings. Forward-looking
statements may generally be identified by the use of the words
"anticipates," "expects," "intends," "plans," "should," "could,"
"would," "may," "will," "believes," "estimates," "potential,"
"target," or "continue" and variations or similar expressions.
These statements are based upon the current expectations and
beliefs of management and are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. These risks
and uncertainties include, but are not limited to, risks and
uncertainties discussed in the Company's most recent annual or
quarterly report and detailed from time to time in Valeant's other
filings with the Securities and Exchange Commission and the
Canadian Securities Administrators, which factors are incorporated
herein by reference. Readers are cautioned not to place undue
reliance on any of these forward-looking statements. These
forward-looking statements speak only as of the date hereof.
Valeant undertakes no obligation to update any of these
forward-looking statements to reflect events or circumstances after
the date of this press release or to reflect actual outcomes,
unless required by law.
Contact Information:
Laurie W. Little
949-461-6002
laurie.little@valeant.com
Elif McDonald
905-695-7607
elif.mcdonald@valeant.com
Media:
Renée Soto
or
Chris Kittredge/Jared Levy
Sard Verbinnen & Co.
212-687-8080
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SOURCE Valeant Pharmaceuticals International, Inc.