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Valeant gets notice of default from bondholders

(Reuters) – Beleaguered Canadian drugmaker Valeant Pharmaceuticals International Inc said it received a notice of default from bondholders for the delay in filing its first-quarter report. Last week, Valeant had said it expected to file the report with U.S. and Canadian regulators on or before June 10, ahead of a July 31 deadline. Valeant had been one of the pharmaceutical industry's most widely owned stocks as its steady stream of acquisitions fueled strong gains in its shares.

Raise minimum age to buy cigarettes to decrease use: U.S. study

By Yasmeen Abutaleb NEW YORK (Reuters) – Raising the minimum age to purchase tobacco products to 21 or 25 years old would significantly reduce their use and tobacco-related illnesses in the United States, a study published Thursday found, suggesting that states and local authorities should consider passing such laws. The U.S. Food and Drug Administration, which sponsored the report, cannot increase the minimum age to buy tobacco in the country from 18, but states and local authorities can do so. The report was presented to the FDA on Tuesday, said Richard Bonnie, chair of the report committee. Among people who smoked daily, 90 percent had tried their first cigarette before the age of 19 while the remaining 10 percent had tried tobacco products by 26, the study found.