for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

BUZZ-Valeant: Jumps as Q3 profit beats despite revenue drop

** Valeant Pharma’s US-listed shares up 12.7 pct at $13.57 premarket after Q3 results

** Beats Q3 profit estimates; earns $1.04/shr, above Wall St est of 88 cents, per TR I/B/E/S

** VRX revenue down 10 pct, hurt by declining sales in branded drugs division; posts adj profit of $367 mln vs $510 mln a year earlier

** Cuts revenue forecast for 2017, but keeps adjusted EBITDA forecast intact at $3.60-$3.75 bln

** VRX now expects FY revenue of $8.65-$8.80 bln vs prior view of $8.70-$8.90 bln

** Shares down 17 pct YTD (Reporting by Sai Sachin Ravikumar)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up