Valeant Pharma Posts Profit, CFO to Depart

Features Reuters

Canadian drugmaker Valeant Pharmaceuticals International Inc reported a quarterly profit, compared with a year-ago loss, driven by higher demand in the United States.

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The company also said Chief Financial Officer Howard Schiller would step down.

Net income attributable to shareholders was $73.7 million, or 21 cents per share, in the first quarter ended March 31, compared with a loss of $22.6 million, or 7 cents per share, a year earlier.

Revenue rose about 16 percent to $2.19 billion. (Reporting by Rosmi Shaji in Bengaluru; Editing by Maju Samuel)