Bondholders bail on Valeant amid cash flow concerns

Valeant ($VRX) may have terminated its relationship with controversial specialty pharmacy Philidor, but the move is going to cost it, with its dermatology and neurology businesses set to suffer. And concern is mounting among debt investors that the disruption to Valeant's cash flow could raise the risk of the company violating lender limits on its debt burden--a prospect that has some of them heading for the door, Bloomberg reports. More