Here’s what you should know:
1. Valeant will repay the debt later this week.
2. Once the debt is repaid, Valeant will surpass its August 2016 pledge to pay down $5 billion in debt by February 2018.
3. Valeant paid off the debt through divesting and by utilizing free cash flow.
Mr. Papa said in a release, “Due to strong operating cash flow, we are able to reduce our debt by an additional $125 million. This means we will not only surpass our goal of paying down $5 billion of debt, but also will exceed it earlier than our initially committed February 2018 timeframe. We will continue to work on reducing our debt and executing on our strategy of investing in our core businesses that will drive growth and where we believe we can make the biggest impact on the lives of patients.”
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