Valeant Reports 41% Increase in Second-Quarter Revenue

Valeant Pharmaceuticals International Inc. (VRX) raised its forecast for full-year earnings after posting a 41 percent increase in second-quarter revenue.

Valeant estimates 2013 adjusted earnings per share of $6 to $6.20, up from a prediction in May of $5.55 to $5.85. Second-quarter revenue excluding one-time items rose to $1.1 billion, the company said today in a statement.

Cash earnings per share increased 54 percent, excluding one-time items, in the second-quarter to $1.34, the company said. Analysts had estimated an EPS of $1.28, according to a survey compiled by Bloomberg.

To contact the reporter on this story: Tim Farrand in Edinburgh at tfarrand@bloomberg.net

To contact the editor responsible for this story: David Risser at drisser@bloomberg.net

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