Full Valeant Pharma (VRX) Presentation from Today's JPMorgan Conference

Valeant is presenting at the JPMorgan health conference today. The company reaffirmed previously issued guidance, which was offered on December 16, 2015.

Valeant also confirmed FY16 guidance, which currently calls for revenue of about $12.5 - $12.7 billion and adjusted EPS of about $13.25 - $13.75. (The Street is currently at FY16 revenue of $12.5 billion and EPS of $13.52, both inline with expectations.)

On the Walgreens Boots (Nasdaq: WBA) alliance, Valent offered the following

Status

• Signed December 14th 2015: 20 year partnership
• Strong ongoing momentum and collaboration between Walgreens/Valeant teams
• Two distinct programs
• U.S. Brands Program: first phase (dermatology) operational January 15, 2016, with ophthalmology products and Addyi to follow shortly thereafter
• U.S. Brand for Generic program: expected to be operational Mid 2016
• Exploring additional collaborations beyond the U.S.

On the U.S. Branded Access program:

• Patient access and co-pay program to ensure affordable access to branded products
• 25+ brands across Dermatology, Ophthalmology Rx, and Addyi
• 10% WAC price reduction (weighted average) across Derm and Ophth Rx
• In process of building a complementary network of independent pharmacies

On the U.S. Generic program:

• For selected products, make branded product available at generic price
• Currently Valeant has sub 5% market-share creating a meaningful volume opportunity

The rest of the presentation is embedded below:

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