Valeant Q1 revenue rises 9.3 percent

Tue Jun 7, 2016 6:16am EDT
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June 7 Reuters) - Valeant Pharmaceuticals International Inc , which is under scrutiny for business and accounting practices, posted a 9.3 percent rise in quarterly revenue, helped by the acquisitions of Salix Pharmaceuticals and certain assets of Dendreon Corp.

Net loss attributable to the company was $373.7 million, or $1.08 per share in the first quarter ended March 31, compared with a profit of $97.7 million, or 28 cents per share, a year earlier. (

Valeant's revenue rose to $2.37 billion from $2.17 billion.

The troubled drugmaker filed its 2015 financial report in late April, allaying concerns about a possible default on its debt of more than $30 billion.

The company missed an original March 15 deadline, citing an in-house review of its accounting practices. The probe found problems dating back to 2014. (Reporting by Amrutha Penumudi and Ankur Banerjee in Bengaluru; Editing by Savio D'Souza)