Valeant announces Q3 financial results

Valeant Pharmaceuticals announced its third quarter 2016 financial results, which included total revenues of $2.48 billion, compared with $2.70 billion in the third quarter of 2015, according to a press release.

The decrease of 11% was the result of decline in product sales and revenue, which was primary due to a decline in product sales revenues from existing businesses, according to the release.

Negative foreign currency exchange, as well as divestitures and discontinuations, which were partial offset by incremental product sales revenues acquisitions completed in 2015, according to the release.

There was a GAAP EPS for the third quarter of 2016 of $3.49, compared to $0.14 a year earlier, while there was an adjusted EPS of $1.55 for the third quarter of 2016, compared with $2.41 for the third quarter in 2015.

In the third quarter of 2016, net loss was $1.22 billion as compared to a net income of $49.5 million in the third quarter of 2015, according to the release.

Valeant also announced that the Bausch + Lomb/International segment reported revenues of $1.16 billion, which was an increase of 4% from $1.2 billion in the same quarter of 2015. The segment contributed 47% of total company revenues, according to the release.

Reference: www.valeant.com