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Valeant Pharmaceuticals Reports Fourth Quarter and Full Year Financial Results
Date:2/24/2009

-2% Canada 85 57,073 51,952 10% Australia (633) 20,969 19,467 8% (548) 297,391 296,138 0% Divested business 27 5,811 30,544 -81% Total specialty pharmaceuticals (521) 303,202 326,682 -7% Branded generic - Latin America 1,218 137,856 151,299 -9% Branded generic - Europe (17,935) 134,869 125,070 8% $(17,238) $575,927 $603,051 -4% Total, net of divested businesses $(17,265) $570,116 $572,507 0% (a) Products sales in the U.S. and Australia in the three and twelve months ended December 31, 2008 include the sales of products acquired in the fourth quarter from Coria in the U.S. and DermaTech in Australia of $8.2 million and $0.8 million, respectively. Product sales excluding currency impact, divested businesses and sales of products acquired from Coria and DermaTech grew 3% for the three months ended December 31, 2008 and declined 2% in the twelve months ended December 31, 2008. To supplement the financial measures prepared in accordance with generally accepted accounting principles (GAAP), the company uses non-GAAP financial measures that exclude certain items, such as acquired in-process research and development, restructuring, asset impairments and dispositions, amortization expense and the tax effect of such charges. Management uses non-GAAP financial measures internally for strategic decision making, forecasting future results and evaluating current performance. By disclosing non-GAAP financial measures, management intends to provide investors with a more meaningful, consistent comparison of the company's core operating results and trends for the periods pre
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SOURCE Valeant Pharmaceuticals International
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