Here’s what you should know:
1. Valeant’s sales decreased 10 percent or $260 million, year-over-year.
2. Valeant reported net income of $1.30 billion for the third quarter.
3. The company’s gastroenterology segment, Salix, grew its revenues by 3 percent year-over-year. Excluding foreign exchange and divestitures, revenue grew 6 percent year-over-year.
4. The company’s Bausch + Lomb segment increased revenue by 1 percent year-over-year. When excluding foreign exchange and divestitures, revenue also grew 6 percent year-over-year.
5. Valeant CEO Joseph C. Papa said in a release, “Our strong third-quarter performance demonstrates our continued progress in the turnaround of Valeant. Driven by solid execution in our Bausch + Lomb/International segment and our Salix business, we delivered strong organic revenue growth across approximately 77% of our business in the quarter.”
6. Concerning end-of-year outlooks, Valeant anticipates net income between $8.70 billion to $8.90 billion. Valeant raised its full-year revenue expectations from the previous quarter.
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