RBC Capital Comments on Valeant (VRX) Earnings

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Go back to RBC Capital Comments on Valeant (VRX) Earnings

Drugmaker Valeant raises profit forecast; shares spike

May 9, 2017 7:11 AM EDT

By Ankur Banerjee and Rod Nickel

(Reuters) - Canada's Valeant Pharmaceuticals International Inc (NYSE: VRX) (NYSE: VRX) raised its 2017 earnings forecast and reported its first profit in six quarters, helped by a one-time tax gain, and its U.S. shares jumped nearly 21 percent.

The maker of Bausch + Lomb contact lenses and irritable bowel treatment Xifaxan is trying to regain investor confidence after investigations into its drug pricing and other business practices, such as its use of a specialty pharmacy, by multiple U.S. government agencies.

Laval, Quebec-based Valeant... More