Valeant profit slides, cuts fourth-quarter profit outlook

Fri Nov 2, 2012 6:19am EDT
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(Reuters) - Valeant Pharmaceuticals International Inc (VRX.TO: Quote) (VRX.N: Quote), Canada's biggest public drugmaker, reported an 81 percent drop in third-quarter profit, and the company cut its profit forecast for the current quarter.

Net income fell to $7.6 million, or 2 cents per share, from $40.9 million, or 13 cents per share, a year earlier.

Total revenue rose 47 percent to $884.1 million. (Reporting by Bhaswati Mukhopadhyay in Bangalore and Allison Martell in Toronto; Editing by Sriraj Kalluvila)