LAVAL, Quebec, May 2 (Reuters) - Valeant Pharmaceuticals International Inc (NYSE:VRX) VRX.TO , weighed down by debt from years of acquisitions, is on pace to meeting its target of repaying $5 billion in debt between August, 2016 and February, 2018, Chief Executive Joe Papa told shareholders on Tuesday.
Repayment is expected to come from asset sale proceeds and free cash flow, and the company has earlier announced sales that will generate up-front proceeds of $2.35 billion.