Valeant Gets Default Notice From Creditors

Less than a week after getting a waiver from its most senior lenders Valeant Pharmaceuticals International Inc. is now facing pressure from its bondholders to file its delayed financials. Valeant said Tuesday it received a notice of default from some bondholders. The notice started the clock on a 60-day grace period, after which creditors can demand immediate repayment if the company hasn’t filed its financial statements. Bloomberg’s Sam Fazeli and BNP Paribas Head of Equity Derivative Strategy Edmund Shing discuss the outlook for pharmaceuticals with “On the Move” host Guy Johnson in London and Bloomberg’s Hans Nichols in Berlin.

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