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.

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Valeant gets notice of default from bondholders