Valeant Reports 2017 Revenues of $8.72 Billion, a Decline of 10 Percent

March 2, 2018: By Joan McKenna

Valeant reported Feb. 28 that its 2017 revenues totaled $8.72 billion, a 10 percent decrease from 2016 revenues of $9.67 billion.

The company said its Bausch + Lomb/International segment accounted for 56 percent of total revenues in 2017.

Valeant said its revenue decline was partially offset by higher volumes in the Bausch + Lomb/International segment, primarily the US Consumer Products business, and increased international pricing in the segment.

Bausch + Lomb posted 2017 revenues of $4.87 billion, a drop of 1 percent from 2016 revenues of $4.93 billion.

Bausch + Lomb’s Q4-2017 revenues were $1.23 billion, a decline of 3 percent from Q4-2016 revenues of $1.26 billion.

Valeant said it reduced its debt by more than $4.4 billion in 2017. It also reduced debt repayment requirements through 2020 by more than $10.8 billion since Dec. 31, 2016, and eliminated all long-term debt maturities until 2020 and all mandatory amortization requirements.

CEO Joseph C. Papa called 2017 “a year of strong progress for Valeant.”

The company provided guidance for 2018 of $8.10 billion to $8.30 billion in revenues.

 

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