Valeant slashes outlook as revenue falls short

Valeant slashes outlook as revenue falls short


Valeant Pharmaceuticals International Inc. returned to slashing its annual outlook Tuesday, signaling the pharmaceutical company is still hemorrhaging from missteps over the past year despite efforts to remake its business. The move to cut guidance, as the company also posted a $1.22 billion loss and wrote down the value of the Salix business it is trying to sell, is an about-face for Valeant, which had affirmed its guidance in August after a string of cuts.



from Biotech News