August 08, 2013
1 min read

Valeant reports $10.9 million in quarterly net income, closes Bausch + Lomb deal

You've successfully added to your alerts. You will receive an email when new content is published.

Click Here to Manage Email Alerts

We were unable to process your request. Please try again later. If you continue to have this issue please contact

Valeant Pharmaceuticals reported $10.9 million in net income for the quarter ended June 30, up from a net loss of $21.6 million during the same period last year, according to a company news release.

The company also announced it finalized its acquisition of Bausch + Lomb as of Aug. 5, including issuing 27.1 million common shares to raise $9.6 billion in support of the purchase.

Valeant noted it expects to realize more than $800 million in cost synergies from the combined company and raised its predictions for all of 2013 to earnings per share of $6 to $6.20, up from $5.55 to $5.85, the release said. The company also predicts total revenue for the year of $5.8 billion to $6.2 billion.

Revenue in the second quarter rose to $1.1 billion from $820 million in the second quarter of 2012, an increase of 34%. Product sales rose to $1.06 billion from $743 million, an increase of 43%.