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Valeant quarterly revenue totals $2.1 billion

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Valeant Pharmaceuticals reported $2.1 billion in revenue in its third quarter, an increase of 33% compared with the third quarter 2013, according to a press release.

Quarterly net income totaled $276.4 million, compared with a net loss of $971.9 million in 2013.

Revenues for the Ophthalmology Rx division totaled $117.8 million, a 57% increase from a year ago, while the Contact Lenses division increased 82% to $44.8 million.

Same store sales organic growth was 19%, while Bausch + Lomb’s organic growth, adjusted for foreign exchange, was 12%.

GAAP operating cash flow increased 207%, totaling $619 million. Adjusted operating cash flow increased 89% to $771 million.

Net debt was reduced to $15.5 billion.

Valeant increased its 2014 guidance for cash earnings per share to $8.22 to $8.32 because of third quarter results and expected strong fourth quarter, the release said.

The 2015 outlook was increased to 10% organic growth and $10 cash earnings per share, assuming no acquisitions are made.