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As a
result of the waiver, the deadline for filing the company's
annual report will be extended to May 31 and the deadline for
filing its report for the quarter ended March 31 will be
extended to July 31.
The extensions provide relief if Valeant is unable to file its
annual report by April 29 and its quarterly report by June 14,
Valeant said. The Canadian drugmaker reiterated that it intended
to file its annual report on or before April 29.
"The company is comfortable with its current liquidity position
and cash flow generation for the rest of the year, and remains
well positioned to meet its obligations," Valeant said,
repeating a statement it made last week.
Valeant's U.S.-listed shares were up about 5 percent at $35.87
in premarket trading.
Laval, Quebec-based company said last week that it had asked its
lenders for another month to file its annual report, seeking to
reduce the risk of a default on its $30 billion debt if it
missed the April 29 deadline
Valeant was originally due to file its annual report by March 15
but said in February that it would not meet that deadline
because of a review of its accounting practices by a board
committee.
The company said on Tuesday that the committee had completed its
review and had not found any new items that would require
additional restatements.
Up to Wednesday's close, the stock had risen almost 30 percent
in two days, helped by that news as well as a comment by key
shareholder and board member William Ackman that Valeant could
appoint a new chief executive within weeks.
(Reporting by Ankur Banerjee in Bengaluru; Editing by Ted Kerr)
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