Valeant Pharmaceuticals posts net loss in 2012
MOSCOW. March 1 (Interfax) - Valeant Pharmaceuticals International posted a net loss of $116 million in 2012, compared to net profit of $159.6 million the previous year, the company said.
The company posted a net loss in the fourth quarter of $89.1 million. Valeant Pharmaceuticals attributes the negative financial results to its purchase in December of Medicis Pharmaceuticals Corp for $2.6 billion.
Operating profit in 2012 was $1.79 billion, up 90%. Sales climbed 47% to $3.3 billion.
Operating profit in the fourth quarter grew 70% to $620.7 million. Sales jumped 44.7% to reach $946.7 million.
Valeant Pharmaceuticals International manufactures and sells over 600 prescription and non-prescription drugs and biotechnical products. Its products are sold in 128 countries.
The company has operated in Russia since 2003. In February 2013 it acquired CJSC Natur Produkt International from Renova group for $163 million.
