Valeant Pharmaceuticals swings to profit

Thu Feb 27, 2014 6:18am EST
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Feb 27 (Reuters) - Valeant Pharmaceuticals International Inc , Canada's largest listed drugmaker, reported a quarterly profit compared with a year-earlier loss, mainly driven by its acquisition of contact lens maker Bausch+ Lomb Holdings Inc.

Valeant posted net income attributable to the company of $123.8 million, or 36 cents per share, for the fourth quarter ended Dec. 31, compared with a loss of $89.1 million, or 29 cents per share, a year earlier.

Cash earnings, or profit adjusted for one-time items, was $732 million, or $2.15 per share.