Valeant's Progress Towards Paying Down $5Bil Debt

No real progress, the iNova proceeds have been accounted for already. They will probably pay down existing debt with new longer term debt at higher interest rates, basically kicking the can down the road. This strategy has worked for the US government so far, why shouldn't it work for Valeant? It didn't work for Greece, but the banks have been playing ball with Valeant. They may issue equity, which will dilute existing shareholders, but they should have done that when the stock was at 250/share, not 14. Had they done that, the share price would probably still be in the triple digits.