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

Shares used in per share computation 82,585 90,459 87,480 93,029 Diluted earnings (loss) per common share: Income (loss) from continuing operations $(1.82) $0.02 $(2.24) $0.22 Discontinued operations, net (0.18) (0.24) 1.97 (0.29) Net loss $(2.00) $(0.22) $(0.27) $(0.07) Shares used in per share computation 82,585 90,978 87,480 93,976 (a) Alliance revenue for the three and twelve months ended December 31, 2008 relates to ribavirin royalty of $16.6 million and $59.4 million respectively and alliance revenue from the GSK collaboration of $4.4 million in the three and twelve months ended December 31, 2008. Alliance revenue for the three and twelve months ended December 31, 2007 includes ribavirin royalties of $16.9 million and $67.3 million respectively and a $19.2 million milestone payment received from Schering-Plough related to the out-licensing of pradefovir in the twelve months ended December 31, 2007. Valeant Pharmaceuticals International Table 2 Reconciliation of GAAP EPS to Cash EPS For the Three and Twelve Months Ended December 31, 2008 and 2007 Three Months Ended Twelve Months Ended December 31, December 31, (In thousands, except per share data) 2008 2007 2008 2007 Income (loss) from continuing operations $(150,450) $2,086 $(196,050) $20,610 Non-GAAP adjustments: Acquired in-process research and development 186,300 - 186,300 - Restructuring, asset impairments and dispositions
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