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Valeant Pharmaceuticals Reports 2011 Second Quarter Financial Results
Date:8/4/2011

MISSISSAUGA, Ontario, Aug. 4, 2011 /PRNewswire/ --

  • 2011 Second Quarter Total Revenue $609 million, including $40 million related to Trobalt milestone
  • Total pro forma revenue growth for the combined company was approximately 27%
  • Excluding the impact of foreign exchange, acquisitions and milestones, pro forma organic growth was approximately 4%
  • Also excluding impact from Diastat and Efudex, pro forma organic growth for the combined company was approximately 7%
  • 2011 Second Quarter GAAP EPS $0.17; Cash EPS $0.73,
  • Includes $0.06 gain from Cephalon investment
  • 2011 Second Quarter GAAP Cash Flow from Operations was $227 million; Adjusted Cash Flow from Operations was $260 million  
  • 2011 Cash EPS Guidance raised to $2.70 - $3.00

    • Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) announces second quarter financial results for 2011.

    “The second quarter once again demonstrated the strength of our diversified business model,” stated J. Michael Pearson, chairman and chief executive officer.  “While the organic growth in our U.S. operations faced a number of headwinds this quarter, such as a tough comparison to the second quarter of 2010 when Legacy Biovail product sales were at unusually high levels, coupled with lower than expected results delivered by partnered Legacy Biovail generic products, we still delivered solid pro forma organic growth.  We remain confident that our full year pro forma organic growth should be approximately 8 percent due in part to the strong performance from our businesses in Europe, Latin America, Canada and Australia. In addition, we are pleased to report that our cash flow from operations generation was particularly robust this quarter, demonstrating the solid execution of our
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    SOURCE Valeant Pharmaceuticals International, Inc.
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