Valeant Claims Progress, Asks Investors For Patience

 
• By Joseph Haas
  
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The Canadian specialty pharma has exceeded its near-term debt-reduction goals, but are its plans for a return to growth grounded in reality? Market analysts recommend caution, but see some reason for optimism.

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Valeant Pharmaceuticals International Inc. has made important debt-reduction progress, meeting its goal ahead of schedule, but the company's near-term growth story remains lackluster. The company told investors during a fourth quarter sales and earnings call that revenues will continue to decline in 2018, but pointed to a "significant seven" of newer products and some yet-to-be-approved opportunities that will drive its return to sales growth from 2019 through 2021.

The Laval, Quebec, specialty pharma still faces massive debt – although most now has been pushed back several years –...

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