Valeant Posts $973M Net Loss in Q3

- October 31st, 2013

Nanaimo Daily News reported that Valeant (TSX:VRX, NYSE:VRX) recorded a net loss of $973 million, or $2.92 per share, in its third quarter due to one-time impairment and restructuring charges and the settlement of a dispute with California-based Anacor Pharmaceuticals.

Nanaimo Daily News reported that Valeant (TSX:VRX, NYSE:VRX) recorded a net loss of $973 million, or $2.92 per share, in its third quarter due to one-time impairment and restructuring charges and the settlement of a dispute with California-based Anacor Pharmaceuticals.

As quoted in the market news:

Valeant (TSX:VRX) announced earlier this week that it has agreed to pay $142.5 million to settle all outstanding disputes with Anacor Pharmaceuticals of Palo Alto, Calif.

The payment includes a previously announced $100-million arbitration award to Anacor (Nasdaq:ANAC), relating to a breach of services provided by Dow Pharmaceutical Sciences Inc. before it was bought by Valeant.

Read the full story on Nanaimo Daily News here

 

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