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Valeant On Track With Debt-Reduction Goals, But Will It Be Enough?

 
• By Joseph Haas

The troubled firm has pushed back its greatest debt burden until 2020, but new products are unlikely to fill sales gap. Valeant says its GI unit is showing positive signs and that a restructuring of the derm commercial unit is nearing completion.

Business decline

Valeant Pharmaceuticals International Inc. reported mixed results at best during its first quarter 2017 earnings call May 9, but investors heard something they liked as the specialty firm's share price increased 24% during the day's trading. The Canadian company's main talking points were that it remains on track with its debt-reduction goals and that its revamped dermatology division is ready to help drive a sales comeback behind products like the recently improved Siliq.

Chief Financial Officer Paul Herendeen noted that Valeant reduced its overall debt – which is still nearly $29bn – by...

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