Valeant Profit Tops Analysts’ Estimates as Drug Sales Surge
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Valeant Pharmaceuticals International Inc., the Canadian drugmaker known for its serial acquisitions, reported first-quarter profit that topped analysts’ estimates and raised its forecast for the year.
Earnings excluding one-time items rose to $2.36 a share from $1.76 a year earlier. Analysts had forecast $2.34 on average, according to estimates compiled by Bloomberg. Revenue increased to $2.19 billion, the company said Thursday in a statement. Analysts had predicted $2.15 billion.