Valeant reverses downward spiral with increased earnings and guidance

9 May 2017

Valeant Pharmaceuticals International (TSX: VRX) has had to endure a 95% reduction in its share price value in the last two years, but there was finally some encouraging news for investors as the company announced its latest quarterly results.

Rather than dealing with allegations on price hikes or over accounting practices, or watching on as investors deserted the Canadian drugmaker, as has been Valeant’s lot since the fall of 2015, company executives were able to boast of increased earnings and a soaring share price on Tuesday.

Revenues for the first quarter of 2017 were in fact down by 11% at $2.11 billion, a decline partly blamed on lower volumes in the company’s US Diversified Products and Branded Rx segments as a result of the loss of exclusivity for a number of products and challenging market dynamics.

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