BUSINESS: Financial Valeant Files Annual Report on Form 10-K With SEC, Restates Quarterly Results for 2014 and 2015 By Staff Monday, May 2, 2016 12:19 AM LAVAL, Quebec—Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) announced on Friday that it has filed its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission for the fiscal year ended Dec. 31, 2015. This Form 10-K includes consolidated financial statements for the years ended Dec. 31, 2013, 2014 and 2015. The audited consolidated financial statements for the year ended Dec. 31, 2014 have been restated. The company has also restated certain unaudited quarterly results related to the three months ended Dec. 31, 2014, the three months ended March 31, 2015, the six months ended June 30, 2015 and the nine months ended Sept. 30, 2015, and revised certain unaudited results for the three months and nine months ended Sept. 30, 2014.The company said, “The default under our senior note indentures arising from the failure to timely file the Form 10-K was cured in all respects by the filing of this Form 10-K. In addition, the company remains in full compliance with its credit agreement.” The company previously identified misstatements that would reduce reported fiscal year 2014 revenue by approximately $58 million, net income attributable to Valeant by approximately $33 million. The company has also identified misstatements in the first quarter of 2015, consisting primarily of the reversing effect on earnings of the 2014 misstatements, which would reduce revenue by approximately $21 million (due to timing of recognition of managed care rebates), and increase net income attributable to Valeant by approximately $24 million.