Valeant Pharma 2nd-qtr sales leap 34%, but loss incurred
Canadian drugmaker Valeant Pharmaceuticals International (TSX: VRX) has announced second quarter 2015 financials, with total revenue increasing 34% year-on-year to $2.7 billion, helped by a strong performance of dermatologicals in the USA.
Excluding negative impact of foreign exchange ($173 million) and the contribution of recently-acquired Salix ($313 million), revenue increased 27% over the prior year.
However, Valeant reported a second-quarter net loss attributable to company of $53.0 million or $0.15 per share, compared to profit of $125.8 million or $0.37 per share in the like 2014 quarter. Cash earnings per share were $2.56, for the quarter. Excluding negative impact of foreign exchange and the negative contribution of Salix, cash EPS would have been $2.73.
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