09:43 AM EST - Angiotech Pharmaceuticals, Inc. : announced today that it has determined, in connection with discussions being conducted with holders of approximately 72% of the Company's 7.75% Senior Subordinated Notes, that it will not make interest payments totaling approximately $9.7 million due to holders of the Subordinated Notes on October 1, 2010. The Company is currently in discussions with holders of its Subordinated Notes to effectuate a transaction that would materially reduce the Company's existing debt levels. Angiotech Pharmaceuticals, Inc.
shares T.ANP are trading down $.05 at $0.55.
