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Max Nisen

Valeant's Turnaround Is Still a Work in Progress

The drugmaker is in better shape than a year ago, but still has a long way to go.
Photographer: Photographer's Mate Airman Patri/Getty Images

Looks like we've got a new candidate for a Valeant Pharmaceuticals International Inc. inflection point.

Valeant reported third-quarter earnings and revenue Tuesday morning that beat (lowered) analyst expectations. And for the second quarter in a row, the company defied analyst expectations by maintaining earnings guidance, despite having divested several assets. Shares jumped 15 percent on the news.