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Valeant Pharmaceuticals Reports 2013 Second Quarter Financial Results
Date:8/7/2013

LAVAL, Quebec, Aug. 7, 2013 /PRNewswire/ --

  • Total Revenue $1.1 billion; an increase of 41% over the prior year, excluding one-time items in 2012 second quarter
  • Product Sales $1.06 billion; an increase of 43% over the prior year
  • 4% organic growth (same store sales) for the Developed Markets segment, excluding the impact from Zovirax Ointment
  • 5% organic growth (same store sales) for Developed Markets segment, excluding the impact from Zovirax Franchise
  • 14% organic growth (same store sales) for the Emerging Markets segment
  • GAAP EPS $0.03; Cash EPS $1.34, an increase of 54% over the prior year, excluding one-time items in 2012 second quarter
  • GAAP Operating Cash Flow $305 million; Adjusted Operating Cash Flow $423 million; an increase of 61% over the prior year excluding one-time items in 2012 second quarter
  • Bausch + Lomb acquisition closed August 5, 2013 and Valeant expects to realize significantly more than $800 million in synergies
  • 2013 Guidance for Cash EPS raised to $6.00 to $6.20, from $5.55 to $5.85, and includes;
  • Negative impact of $0.11 from pre-closing interest expense and additional share count associated with the Bausch + Lomb financing
  • Negative impact of $0.06 from foreign exchange movement
  • Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) announces second quarter financial results for 2013.

    "The continued outperformance of our businesses, which delivered strong financial results and organic growth despite the genericization of our largest product in April, demonstrates the value of a diversified portfolio," stated J. Michael Pearson, chairman and chief executive officer.  "We are particularly pleased with the performance of our Emerging Markets segment, which delivered organic growth of 14%."

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    SOURCE Valeant Pharmaceuticals International, Inc.
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