VALEANT Pharmaceuticals has
reported its third quarter results
which included a $208.3 million
contribution from its recently
merged subsidiary Biovail, as well
as $259.2 million from Valeant.
Ceo Michael Pearson said the
Biovail results were “disappointing”
but that the Valeant business
“continues to perform well”.
The company also notified
shareholders that the integration of
its operations was ahead of its
planned schedule.
“I am pleased with the combined
operating performance of our new
company and the many new
commercial initiatives underway,”
said Pearson.
Despite the estimated $20m
losses for the fourth quarter from
Diastat generic competition,
Pearson also predicted the merged
company will around make $500m
in revenue and $200m in adjusted
non-GAAP cash flows.
Earlier this week Valeant
announced its acquisition of
Australian suncare company,
Hamiltons.The above article was sent to subscribers in Pharmacy Daily's issue from 05 Nov 10 To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 05 Nov 10
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