August 9, 2016 / 10:12 AM / a year ago

Valeant's quarterly revenue falls 11 pct

Aug 9 (Reuters) - Valeant Pharmaceuticals International Inc

reported an 11 percent fall in quarterly revenue, mainly due to faltering sales in its dermatology business.

The net loss attributable to the company rose to $302.3 million, or 88 cents per share, in the second quarter ended June 30 from $53 million, or 15 cents per share, a year earlier.

Revenue fell to $2.42 billion from $2.73 billion.

Valeant’s stock came under siege last year when questions about the company’s business and accounting practices spooked investors. The stock has lost nearly 90 percent of its value since hitting a record high of $253.57 last August. (Reporting by Ankur Banerjee in Bengaluru; Editing by Anil D‘Silva)

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