Valeant posts bigger loss as costs rise

Thu May 2, 2013 6:19am EDT
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May 2 (Reuters) - Valeant Pharmaceuticals International Inc , Canada's biggest publicly traded drugmaker, reported a bigger first-quarter loss as expenses rose due to its $2.6 billion acquisition of Medicis Pharmaceuticals Corp.

The company's net loss widened to $27.5 million, or 9 cents per share, from $12.9 million, or 4 cents per share, a year earlier.

Cash earnings, or profit adjusted for one-time items, amounted to $1.30 per share.