Valeant Sees Q3 Results To Beat Consensus On Revenue; Sends Letter To Allergan

(RTTNews) - Canada-based Valeant Pharmaceuticals International Inc. (VRX, VRX.TO) said it expects same store organic growth unadjusted for generics to exceed 15% in third quarter, with double-digit growth across almost all of its majority businesses and geographies and Bausch + Lomb continuing to deliver 10%+ same store organic growth unadjusted.

Also, the firm's third-quarter results are expected to be better than consensus on revenue, and better than the guidance provided in its second-quarter earnings call for cash earnings per share, organic growth, restructuring charges and adjusted cash flow from operations.

In addition, the company expect continued strong double-digit same store organic growth in the fourth quarter.

Further, Valeant's Chairman & Chief Executive, Michael Pearson, today sent a letter to Allergan, Inc.'s (AGN) CEO David Pyott and Lead Independent Director Michael Gallagher. The letter, following the previous correspondence between the parties, issues an update on Valeant's expected third-quarter results and expresses Valeant's continued willingness to negotiate a mutually agreeable transaction with Allergan.