Valeant Pharma returns to profit, boosted by B&L acquisition
Canadian drugmaker Valeant Pharmaceuticals International (TSX: VRX) has announces fourth quarter financial results for 2013, with total revenues more than doubling to $2.1 billion (+109%).
Valeant posted net income attributable to the company of $123.8 million, or $0.36 per share, for the fourth quarter ended December 31, compared with a loss of $89.1 million, or $0.29 per share, a year earlier.
Cash earnings, or profit adjusted for one-time items, were $731.5 million, or $2.15 per share. Analysts had expected cash earnings of $2.06 per share on revenue of $2.06 billion, according to Thomson Reuters .
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