Tag: laval
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Valeant adjusted profit misses estimates; FY forecast cut
(Reuters) – Valeant Pharmaceuticals International Inc reported a smaller-than-expected quarterly adjusted profit due to faltering sales of its dermatology products and irritable bowel syndrome drug, and the company cut its full-year profit and revenue forecasts. Valeant's U.S.-listed shares fell more than 10 percent in premarket trading on Tuesday. Up to Monday's close of $19.13, the…
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SEC raises concerns about Valeant’s use of ‘Non-GAAP’ measures
The SEC has questioned Valeant's practice of stripping away acquisition-related expenses from its “non-GAAP” or adjusted metrics, given that the drugmaker had been fueling growth through frenzied deal making. In multiple letters, the SEC said Valeant's management is in possession of all the facts and urged for adequate and accurate financial disclosures. “We are concerned…
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Valeant wants Perrigo’s Papa as its new CEO: CNBC, citing Dow Jones
(Reuters) – Valeant Pharmaceuticals International Inc is seeking to name Perrigo Co Plc's Joseph Papa as its new chief executive, CNBC tweeted, citing Dow Jones.
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Countries on verge of beating malaria face new threat, study says
By Sebastien Malo NEW YORK (Thomson Reuters Foundation) – Nations on the verge of eliminating malaria risk falling short of their goal, just as it lies within reach, due to funding being shifted elsewhere, researchers said on Thursday. Global aid has moved to areas where malaria remains widespread, while internal domestic funding gets diverted to…
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AstraZeneca taps gene pioneer Venter for huge drug-hunting sweep
By Ben Hirschler CAMBRIDGE, England (Reuters) – AstraZeneca, working with genome pioneer Craig Venter, is launching a massive gene hunt in the most comprehensive bet yet by a pharmaceutical firm on the potential of genetic variations to unlock routes to new medicines. The initiative, announced on Friday, involves sequencing up to 2 million human genomes…
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UK agency backs cancer drug after Sanofi cuts price
LONDON (Reuters) – Britain's healthcare cost watchdog NICE said on Friday it had changed its mind and decided to recommend Sanofi's prostate cancer drug Jevtana after the French company agreed to a further discount. The National Institute for Health and Care Excellence (NICE) said the improved discount was “an excellent example of how pharma companies…
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Exclusive: Makers took big price increases on widely used U.S. drugs
By Caroline Humer NEW YORK (Reuters) – Major drug companies took hefty price increases in the U.S., in some cases more than doubling listed charges, for widely used medications over the past five years, a Reuters analysis of proprietary data found. Together, the price increases on drugs for arthritis, high cholesterol, asthma and other common…
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Valeant cuts 2016 forecasts, says report delay poses default risk
The Canadian drugmaker, the target of U.S. investigations into its business and accounting practices, reiterated that it would delay filing its annual report with U.S. regulators but for the first time raised the specter of a default as a result. As of Sept. 30, Valeant had about $30 billion of long-term debt. The company said…
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Valeant cuts 2016 forecasts, says report delay poses default risk
The Canadian drugmaker, the target of U.S. investigations into its business and accounting practices, reiterated that it would delay filing its annual report with U.S. regulators but for the first time raised the specter of a default as a result. As of Sept. 30, Valeant had about $30 billion of long-term debt. The company said…
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Mass killer Breivik gives Nazi salute as he sues Norway for ‘inhuman treatment’
By Gwladys Fouche SKIEN, Norway (Reuters) – Mass killer Anders Behring Breivik opened a court case against Norway on Tuesday with a Nazi salute as his lawyers prepared to argue he has received inhuman treatment by being kept in isolation for murdering 77 people in 2011. Appearing in public for the first time since he…