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HCR ManorCare has reached an agreement with its landlord, Quality Care Properties, for a debt-for-equity swap as part of an imminent Chapter 11 filing.
The company said its fourth-quarter earnings fell due to declining revenue from its EpiPen emergency allergy injector and weak U.S. prices for generic drugs.
Valeant Pharmaceuticals' forecast for 2018 revenue fell below Wall Street estimates, as the company faces intensifying competition for some of its major products.