CEO to talk terms with lenders; Valeant stock leaps

August 11, 2016 1:54 AM

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Shareholders of Valeant Pharmaceuticals International Inc. are finally giving the drugmaker a chance, at least until next quarter.

The stock jumped 25 percent Tuesday to close at $28.16, after the company stuck with the full-year guidance it gave in June. Chief executive officer Joe Papa promised to renegotiate terms with lenders, said the company could sell about $8 billion worth of assets, and announced a strategic reorganiza...

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