RE:RE:RE:RE:Still on sidelines
Juice004 wrote: Really? Did you miss this on Sep 16th? I don't make stuff up
Concordia International Comments on Health Service Medical Supplies (Costs) Bill
https://finance.yahoo.com/news/concordia-international-comments-health-medical-140100049.html
lnvestor198 wrote: Juicey, They didn't reiterate guidance in a september pr - In fact they gave a profit warning
Hello.... I didn't miss anything. Look at the October 5th PR
This is considered a profit warning (highlighted)
CONCORDIA INTERNATIONAL ANNOUNCES OFFERING OF SENIOR NOTES
OAKVILLE, ON, Oct. 5, 2016 /CNW/ - Concordia International Corp. (Concordia or the Company) (NASDAQ: CXRX) (TSX: CXR), an international pharmaceutical company focused on legacy pharmaceutical products and orphan drugs, today announced its intention to commence an offering (the "Offering"), subject to market conditions and other factors, of up to $350 million of new 5 ½ year Senior Secured First Lien Notes (the "Notes").
Actual terms of the Notes, including interest rate, principal amount and maturity, will depend on market conditions at the time of pricing.
The net proceeds of the Offering will be used to strengthen the Company's liquidity position and augment its product development pipeline beyond the anticipated, and previously disclosed, 60 product launches expected by the fourth quarter of 2018.
Additional information on the Offering will be available on the Company's website on October 6, 2016 at www.concordiarx.com, under "Downloads" in the Investors section.
Consistent with the Company's internal forecast, the Company expects that its pro forma Adjusted EBITDA for the 12 months ended September 30, 2016will decrease relative to pro forma Adjusted EBITDA for the 12 months ended June 30, 2016 for two primary reasons: (1) the change in the exchange rate between United Kingdom pounds sterling and the U.S. dollar and (2) competitive pressures on Nilandron®, Donnatal® and Plaquenil®. Each of these events have been previously disclosed by the Company. The Company's actual results may differ from these expectations due to our financial closing procedures, final adjustments and other developments that may arise between now and the time financial results for the period are finalized.