Valeant buys back $137.6 million of convertibles, 2.3 million shares

By Toni Weeks

San Diego, Feb. 28 - Valeant Pharmaceuticals International, Inc. has repurchased $137.6 million of 5.375% convertible notes due Aug. 1, 2014 to date for $284.1 million and purchased 2.3 million common shares for $60.1 million as part of its securities repurchase program, according to a 10-K filed Monday with the Securities and Exchange Commission.

The company said the securities will be repurchased with cash.

Valeant makes pharmaceutical products primarily in the areas of neurology and dermatology and is based in Aliso Viejo, Calif.

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