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Valeant second-quarter total revenue increases 86%

Valeant Pharmaceuticals reported a total revenue of $2 billion for the second quarter of 2014, up 86% from the second quarter of 2013.

The company’s net income was $126 million, or $0.37 per diluted share. Based on cash earnings per share, Valeant’s adjusted income increased by 43% from the previous year at $651 million, or $1.91 per diluted share, according to a company press release.

Overall organic growth was 4% for same-store sales and 8% pro forma, excluding divested facial injectables; Bausch + Lomb grew 12%.

Additionally, 17 new products were launched in the U.S. year-to-date, according to the release.

Valeant sold facial injectable assets to Galderma S.A. for approximately $1.4 billion, representing a gain of more than $300 million. The company intends to use the proceeds to fund Allergan and/or establish additional business opportunities.

The company planned to discuss topics including financial guidance for 2014, a financial outlook for 2015 and 2016, and an update on Allergan in a conference call this morning, according to the release.