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Actionable news in VRX: VALEANT PHARMACEUTICALS INTERNATIONAL,

More Squawk From Jim Cramer: Buy Valeant (VRX) Stock on Today's Weakness

NEW YORK (TheStreet) -- Valeant Pharmaceuticals (VRX - Get Report) stock is down by 7.01% to $32.78 in early-afternoon trading on Friday, after the pharmaceutical company released its overdue annual report and announce sweeping changes to its board.

The filing of the annual report, known as a 10-K, resolves the danger of a default on $30 billion in debt but also reveals a number of new investigations by states and regulators into issues such as drug pricing practices, its former relationship with specialty pharmacy Philidor and its accounting treatment of sales to specialty pharmacies.

"I still think there are issues," TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" this morning. "But I see a turn going on here in terms of the company coming forward."

Valeant restated 2015 fourth quarter results, saying that adjusted earnings were $1.55 per share, down from the $2.50 per share previously...


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