Valeant Reports 1 Percent Growth for Bausch + Lomb Segment in Q3-2017

November 10, 2017: By Joan McKenna

Valeant PharmaceuticalsValeant reported Nov. 7 that its Bausch + Lomb/International segment grew 1 percent (2 percent cc) in Q3-2017 year over year and accounted for nearly 57 percent of Valeant’s total revenues.

Valeant’s revenues for the quarter totaled $2.2 billion, down 10 percent year over year. Its net income was $1.3 billion compared with a net loss of $1.22 billion for the same period in 2016.

BauschThe Bausch + Lomb segment’s revenues totaled $1.25 billion in the third quarter, up from $1.24 billion in Q3-2016.

Laval, Quebec-based Valeant also reported that it reduced total debt by about $6 billion since the end of the first quarter of 2016. The company’s current long-term debt is $27.43 billion.

“Valeant is a very different company today than it was a year ago,” CEO Joseph Papa said in a statement. “Under a new management team, we have strengthened our balance sheet and stabilized the company by simplifying our business and allocating resources more efficiently.”

Within the Bausch + Lomb/International segment, the Global Surgical segment posted $161 million in revenues in Q3-2017, a 4 percent increase over Q3-2016; the Global Vision Care segment reported $208 million, a 5 percent increase; Global Consumer Products posted revenues of $392 million, a decline of 2 percent; and Global Ophthalmology Rx reported revenues of $149 million, a decline of 8 percent.

Valeant updated its guidance for 2017, expecting full-year revenues in the range of $8.65 billion to $8.80 billion, down slightly from previous guidance of $8.70 billion to $8.90 billion.

Also, Valeant reported Nov. 6 that it gave back its Sprout subsidiary, maker of the female libido product Addyi, to the former owners for a 6 percent royalty on future sales of Addyi. Valeant acquired the unit for $1 billion in 2015.

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