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Valeant Pharmaceuticals Reports 2013 Third Quarter Financial Results
Date:10/31/2013

LAVAL, Quebec, Oct. 31, 2013 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) announces third quarter financial results for 2013.

  • Total Revenue $1.54 billion; an increase of 74% over the prior year
  • 4% organic growth (same store sales) for the Developed Markets segment, excluding the impact from Zovirax franchise, Retin-A Micro and BenzaClin generic products
  • 14% organic growth (same store sales) for the Emerging Markets segment
  • 10% organic growth for Bausch + Lomb since close versus prior year
  • GAAP EPS loss of $2.92; Cash EPS $1.43, an increase of 24% over the prior year; adjusting for pre-closing Bausch + Lomb financing costs of $0.09, Cash EPS would have been $1.51, an increase of 31% over prior year
  • GAAP Operating Cash Flow $202 million; Adjusted Operating Cash Flow $408 million; an increase of 69% over the prior year
  • Bausch + Lomb integration on track and Valeant expects to realize more than $850 million in synergies
  • 2013 Guidance for Cash EPS updated to $6.11 to $6.16
  • "Despite an unexpected early launch of a generic Retin-A Micro, significant headwinds this quarter from foreign exchange movements, and the demands of a major integration, we managed to beat expectations and position Valeant for a terrific fourth quarter and a strong 2014," stated J. Michael Pearson, chairman and chief executive officer.  "I thank our team, both at Valeant and our new colleagues from Bausch + Lomb, for their commitment, diligence, and focus on execution.  I am confident that our strategic focus on diversification, durable assets, key geographies, and low risk R&D will continue to benefit our shareholders as we look forward to continuing our track record of outperformance." 

    Valeant Third Quarter Financial ResultsValeant's total revenues were $1.54 billio
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    SOURCE Valeant Pharmaceuticals International, Inc.
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