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Last $259.98 USD
Change Today +2.77 / 1.08%
Volume 1.2M
VRX On Other Exchanges
Symbol
Exchange
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New York
As of 8:04 PM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

valeant pharmaceuticals inte (VRX) Key Developments

Valeant Pharmaceuticals International, Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter and Fourth Quarter of 2015; Revises Earnings Guidance for the Full Year 2015

Valeant Pharmaceuticals International, Inc. reported consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues of $2,732.4 million against $2,041.1 million a year ago. Operating income was $341.5 million against $355.1 million a year ago. Loss before provision for income taxes was $64.7 million against income before provision for income taxes of $121.0 million a year ago. Net loss was $51.6 million against net income of $122.0 million a year ago. Net loss attributable to company was $53.0 million or $0.15 per diluted share against net income attributable to company of $125.8 million or $0.37 per diluted share a year ago. Adjusted net income attributable to company was $897.1 million against $650.6 million a year ago. Net cash provided by operating activities (GAAP) was $410.5 million against $376.0 million a year ago. Adjusted cash flow from operations was $772.8 million against $500.2 million a year ago. For the six months, the company reported total revenues of $4,923.3 million against $3,927.3 million a year ago. Operating income was $884.9 million against $711.7 million a year ago. Income before provision for income taxes was $90.7 million against $125.8 million a year ago. Net income was $22.9 million against $101.7 million a year ago. Net income attributable to company was $20.7 million or $0.06 per diluted share against $103.2 million or $0.30 per diluted share a year ago. Adjusted net income attributable to company was $1,706.4 million against $1,250.3 million a year ago. The company provided earnings guidance for the third quarter and fourth quarter of 2015. For the third quarter, the company expects total revenue to be between $2.6 billion - $2.8 billion and cash EPS of $2.60 per share - $2.70 per share. For the fourth quarter, the company expects total revenue of $3.2 billion - $3.4 billion and cash EPS of $3.98 per share - $4.18 per share. The company revised earnings guidance for the full year 2015. The company increasing 2015 total revenue to $10.7 - $11.1 billion up from $10.4 - $10.6 billion. The company also increasing 2015 cash EPS to $11.50 - $11.80 per share up from $10.90 - $11.20 to reflect continued business outperformance and approval of IBS-D indication for Xifaxan. The company increasing adjusted cash flow from operations to greater than $3.2 billion, up from greater than $3.1 billion.

Valeant Pharmaceuticals Provides Earnings Guidance for the Second Quarter of 2015

Valeant Pharmaceuticals provided earnings guidance for the second quarter of 2015. For the quarter, the company expects net profits to $426.2 million in the second quarter. Adjusted profits excluding one-time items are forecast to reach $863.3 million or $2.46 per share.

Eyegate Signs Licensing Agreement with a Subsidiary of Valeant Pharmaceuticals for EGP-437 Combination Product in Uveitis

Eyegate Pharmaceuticals, Inc. announced that it has entered into an exclusive, worldwide licensing agreement with a subsidiary of Valeant Pharmaceuticals International, Inc. through which EyeGate has granted Valeant exclusive, worldwide commercial and manufacturing rights to its EyeGate® II Delivery System and EGP-437 combination product in the field of uveitis, as well as a right of last negotiation to license the Product for other indications. Under the agreement, EyeGate will receive an upfront cash payment, development-based milestone payments related to the completion of development for the indication of anterior uveitis and an approval-based milestone payment upon receipt of FDA approval of the Product. Additionally, the Company would receive royalties based on net sales, as well as additional milestone payments based on the achievement of certain cumulative sales milestones. EyeGate shall be responsible for the development of the Product in the U.S. for the indication of anterior uveitis, together with the costs associated therewith. Valeant has the right to develop the Product in the field outside of the U.S. and has agreed to fund 100% of any costs associated therewith.

Valeant Reportedly Made A Preliminary Approach To Buy Zoetis

Valeant Pharmaceuticals International, Inc. (TSX:VRX) has made a preliminary approach to buy Zoetis Inc. (NYSE:ZTS), people familiar with the matter said. The shares of Zoetis rose 11% after the rumour to close at $55.38.

Valeant Pharmaceuticals International, Inc. to Report Q2, 2015 Results on Jul 23, 2015

Valeant Pharmaceuticals International, Inc. announced that they will report Q2, 2015 results on Jul 23, 2015

 

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