Rodman & Renshaw Downgrades Valeant Pharmaceuticals (VRX) to Neutral
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November 8, 2016 12:17 PM EST
S&P Global Ratings said its ratings and outlook on Valeant Pharmaceuticals International Inc. (NYSE: VRX) (B/Stable/--) are unchanged following the company's weak earnings report for the third quarter and lowered guidance for 2016. The company also indicated 2017 performance will likely be weaker than in 2016, because of the loss of exclusivity on certain neurology products. This contrasts with our prior expectation that 2017 would be materially stronger than 2016, given that 2016 has been a year of significant turbulence and transition for the company.
This represents a significant deterioration from our expectations and we are lowering our... More
November 8, 2016 6:02 AM EST
Valeant Pharma (NYSE: VRX) reported Q3 EPS of $1.55, $0.20 worse than the analyst estimate of $1.75. Revenue for the quarter came in at $2.48 billion versus the consensus estimate of $2.49 billion.
"This past quarter, we made further progress toward establishing the new Valeant," said Joseph C.... More
