November 01, 2013
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Valeant quarterly revenue totals $1.54 billion

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Valeant Pharmaceuticals reported $1.54 billion in total revenue for the third quarter, a 74% increase from the same period in 2012, according to a press release.

Product sales totaled $1.5 billion, up from $852.7 million in the same period in 2012.

Developed markets revenue totaled $1.14 billion, a 77% increase from the third quarter 2012, mainly attributed to the acquisition of Bausch + Lomb.

Emerging markets revenue totaled $399 million, a 68% increase from the same period in 2012, also resulting primarily from the acquisition of Bausch + Lomb.

Valeant reported a net loss of $973 million for the third quarter, a loss of $2.92 per share, because of one-time impairment charges, settlement of a contract dispute, and restructuring, integration and other charges mostly stemming from the acquisition of Bausch + Lomb.

Research and development costs totaled $49 million, up from $19 million in the third quarter 2012.

For the 9-month period ending Sept. 30, revenue totaled $3.7 billion, up from $2.6 billion in the same period of 2012. Product sales totaled $3.6 billion, up from $2.3 billion a year earlier.