Valeant Posts $973M Net Loss in Q3
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