|
Net
income attributable to the company fell to $49.5 million, or 14
cents per share, for the third quarter ended Sept. 30, from
$275.4 million, or 81 cents per share, a year earlier.
Cash earnings, or profit adjusted for one-time items, was $2.74
per share, above the average analysts' estimate of $2.70 per
share, according to Thomson Reuters I/B/E/S.
Revenue rose to $2.79 billion from $2.06 billion a year earlier,
topping analysts' expectation of $2.78 billion. Sales from U.S.
dermatology business rose 53 percent to $465.5 million.
Valeant also increased its full-year revenue forecast to $11
billion-$11.2 billion from $10.7 billion-$11.1 billion estimated
previously. The company also increased cash earnings estimate to
$11.67-$11.87 per share from $11.50-$11.80 per share.
The Canadian drugmaker said last week it had been subpoenaed by
U.S. prosecutors, seeking details on its drug pricing and
distribution practices.
(Reporting by Ankur Banerjee in Bengaluru; Editing by Anil
D'Silva)
[© 2015 Thomson Reuters. All rights
reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
