August 9, 2016 / 10:17 AM / a year ago

BRIEF-Valeant Pharmaceuticals Q2 GAAP loss per share $0.88

Aug 9 (Reuters) - Valeant Pharmaceuticals International Inc :

* Valeant Pharmaceuticals reports second quarter 2016 financial results

* Sees FY 2016 revenue $9.9 billion to $10.1 billion

* Q2 earnings per share view $1.48 -- Thomson Reuters I/B/E/S

* Q2 GAAP loss per share $0.88

* “we have taken steps to streamline our portfolio in Q2”

* Entered into a definitive agreement to divest all north american commercialization rights to Ruconest to Pharming Group N.V.

* Sold, or agreed to sell, brodalumab EU rights, synergetics USA OEM business, and Ruconest for a total combined upfront payment of $181 million

* Pharming will also pay valeant certain sales-based milestone payments of up to $65 million

* Brodalumab EU rights,synergetics USA OEM business,Ruconest deal includes additional consideration up to $329 million for approval,sales milestones

* Total revenues decreased 11% to $2.42 billion in Q2 of 2016

* Q2 earnings per share view $1.44, revenue view $2.45 billion -- Thomson Reuters I/B/E/S

* Valeant Pharmaceuticals international inc qtrly adjusted earnings per share $1.40

* Company is reconfirming its full year 2016 guidance

* Announcing new strategic direction for Valeant, which will involve reorganizing our company and reporting segments

* Pharming will pay valeant aggregate consideration of up to $125 million, including an upfront fee of $60 million payable upon closing

* FY2016 earnings per share view $6.53, revenue view $10.00 billion -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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