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Valeant Pharmaceuticals Reports 2013 First Quarter Financial Results
Date:5/2/2013

LAVAL, Quebec, May 2, 2013 /PRNewswire/ --

  •  2013 First Quarter Total Revenue $1.068 billion; an increase of 25% over the prior year
  •  2013 First Quarter Product Sales $1.039 billion; an increase of 38% over the prior year
  •  Organic growth (same store sales) was 6%, excluding the impact from generics, primarily BenzaClin and Cesamet
  •  Pro forma organic growth was 4%, excluding the impact from generics, primarily BenzaClin and Cesamet
  •  2013 First Quarter GAAP EPS Loss of $0.09; Cash EPS $1.30, an increase of 43% over the prior year, excluding one-time items in 2012 first quarter
  •  2013 First Quarter GAAP Operating Cash Flow $255 million; Adjusted Operating Cash Flow $345 million; an increase of 35% over the prior year, excluding one-time items in 2012 first quarter
  •  2013 Guidance for Cash EPS raised to $5.55 to $5.85 despite entry of Zovirax generic ointment
  • Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) announces first quarter financial results for 2013.

    "Despite a slow January due to the integration of the Valeant and Medicis sales organizations, we delivered another solid quarter of strong growth in Cash EPS and adjusted cash flow to our shareholders," stated J. Michael Pearson, chairman and chief executive officer.  "We were particularly pleased with the strong organic growth of our emerging market segment, which was primarily driven by Poland, Russia, Brazil, South East Asia, and South Africa, as well as the continued growth in many of our promoted brands."

    RevenueValeant's total revenues were $1.068 billion, up 25% compared to the first quarter of 2012, and product revenues were $1.039 billion, up 38% versus the year-ago quarter. 

    Valeant's U.S. Promoted product sales increased 91% to $479 million led by strong growth in
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    SOURCE Valeant Pharmaceuticals International, Inc.
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