Valeant has a very diverse product portfolio, with no single product accounting for more than 10% of total annual revenues; and The company has very limited debt maturities over the intermediate term. Valeant's portfolio is dominated by small products, with limited sales potential; Improvement in the company's weak credit protection measures will rely heavily on the launch of new products; The recent setback with taribavirin (formerly known as viramadine) amid an already weak pipeline leaves the company without a new marketable product in the near term; and Valeant has a limited track record of R&D success. The speculative-grade rating on Aliso Viejo, Calif.-based specialty pharmaceutical company Valeant Pharmaceuticals Intl reflects the company's challenges in generating earnings and cash flow growth,
