Angiotech Pharmaceuticals Inc. (NSDQ:ANPI) deferred $9.7 million in interest payments on debt that were due Oct. 1, looking to "effectuate a transaction that would materially reduce the company’s existing debt levels," the company said.
The Vancouver-based company staked its fortunes to Boston Scientific Corp. (NYSE:BSX) and the Taxus drug-eluting stent for which Angiotech makes the drug paclitaxel.