Concordia International Corp. (CXR.TO)

Chalifmann3:

21.10.17 18:24

#1

grosser kanadischer Biotechwert in extremen sinkflug,fast geschenkt !

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Chalifmann3:

sieht schlecht aus

22.10.17 13:02

#2

Concordia International Corp shares plunge as it seeks to restructure its debts
The Canadian pharmaceutical company says the move is an effort to protect its business, preserve cash and get more time to negotiate with lenders
The Canadian pharmaceutical company says the move is an effort to protect its business, preserve cash and get more time to negotiate with lenders. Postmedia News

Concordia International Corp. announced on Friday that it is seeking to restructure its debt obligations in an effort to protect its business, preserve cash, and get more time to negotiate with lenders.

The Canadian pharmaceutical company, once an investor favourite for its aggressive acquisition strategy that targeted off patent and end of life cycle drugs, has faced stiff headwinds for both its U.S. and European businesses.

Those pressures, combined with Concordia’s high leverage, caused it to fall out of favour with investors, sending the stock down approximately 70 per cent year to date. Concordia shares plunged more than 25 per after Friday’s announcement.

The decision follow’s a missed interest payment of $26 million due on it $735 million senior unsecured notes due in 2023.

“The missed interest payment is credit negative as failure to make the payment prior to the end of its 30-day grace period will constitute an event of default,” Moody’s said on Wednesday.

Concordia warned that its proposed recapitalization plan may result in the dilution of its outstanding common shares, and the extent of this dilution “may be sizable.”

The company said had approximately $340 million of cash on hand at the end of September 2017.

Following previous efforts to retool ints capital structure, Concordia is beginning a court proceeding under the Canada Business Corporations Act (CBCA). The company hopes to reduce its existing secured and unsecured debt obligations by more than $2 billion.

“We appreciate the ongoing cooperation of our lenders throughout this process and remain optimistic that we can reach a consensual transaction with them that we believe will allow us to move forward with all of the pillars of our DELIVER strategy in order to maximize the potential of Concordia,” the company’s chef executive, Allan Oberman, said in a statement.

Despite increased competition in the generic drug business, Canaccord Genuity analyst Neil Maruoka did note that Concordia’s international segment has been able to launch several new products. However, he warned of the potential for increased pricing pressure in the U.K. amid an uncertain regulatory outlook.

“…We do not foresee any near-term fundamental catalysts that could turn the page for Concordia,” Maruoka said in an October 16 research report. “Given its high debt load and eroding performance, we continue to see limited value in the equity of the company.”

Completion of Concordia’s recapitalization plan is subject to various approvals by certain Concordia security holders, the Court, the Nasdaq and/or the Toronto Stock Exchange.

“Under the CBCA process, Concordia’s management will continue to lead day-to-day operations and operate its business as usual, while meeting its commitments to employees, suppliers and customers,” the company said

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Swity:

Sie kommt wieder.

15.12.17 15:59

#3

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Chalifmann3:

hier

10.03.18 12:15

#4

Concordia International Corp, formerly Concordia Healthcare Corp, is a Canada-based pharmaceutical company. The Company, through subsidiaries, owns a portfolio of branded and generic prescription products. Its activities are divided into four segments: Concordia North America, includes sales of pharmaceutical products, such as Donnatal for the treatment of irritable bowel syndrome, Zonegran for the treatment of partial seizures in adults with epilepsy and Nilandron for the treatment of metastatic prostate cancer; Concordia International, includes a portfolio of branded and generic products that are sold to wholesalers, hospitals and pharmacies in over 100 countries, and focuses on acquisition, licensing and development of off-patent prescription medicines; Orphan Drugs, includes Photofrin, which is for the treatment of certain forms of rare cancer, and Corporate cost centre, includes centralized costs incurred by the Company.

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