Investing.com - Canadian drugmaker Valeant Pharmaceuticals (NYSE:VRX) cut its revenue forecast for the year on Tuesday and warned it may be facing a default risk. Valeant said 2016 revenue is now expected to be $11.0 billion to $11.2 bn, compared with its previous estimate of $12.5 bn to $12.7 bn. The company reported fourth-quarter earnings of $2.50 per share, compared with the average analyst estimate of $2.61. Valeant said it would delay filing its final annual report with U.S. regulators, but warned it could face a default if doesn't file by April 29. The drugmaker is the target of U.S. investigations into its business and accounting practices.