11.08.17

Valeant Profit Beats on Bausch & Lomb Strength

Source: Valeant

Valeant Pharmaceuticals reported a better-than-expected quarterly profit on strength in its Bausch and Lomb eye-care business, and the Canadian drugmaker maintained its full-year adjusted earnings forecast, according to a report on CNBC.

Valeant maintained its forecast for full-year adjusted earnings before interest, taxes, depreciation, and amortization of $3.60 billion to $3.75 billion, even as it divests assets to reduce its debt pile, accumulated during former CEO Michael Pearson's deal-making spree.

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