Valeant turnaround efforts, debt levels profiled by WSJ - InvestingChannel

Valeant turnaround efforts, debt levels profiled by WSJ

In a story titled “Inside Valeant’s Efforts to Be a Normal Drug Company,” Wall Street Journal’s Jonathan Rockoff profiles the efforts of Valeant Pharmaceuticals CEO Joseph Papa to turn the company around. Papa told Rockoff that the business’s return to growth will come in part from new products like eye-surgery device Stellaris Elite and glaucoma drug Vyzulta. Further, the writer notes that Valeant doesn’t owe debt until $4.4B comes due in 2020. Of the company’s debt level, Papa said, “”Our goal is not to get it to zero. We’d be comfortable in that $15 billion to $20 billion range.” Valeant shares in midday trading are up 12c to $16.60.