Valeant Pharmaceuticals (VRX), now known as Bausch Health Companies (BHC), generated revenues of $2 billion in the first quarter compared to $2.1 billion in the first quarter of 2017, reflecting a 5% YoY (year-over-year) decline.
Wall Street analysts estimate that Valeant Pharmaceuticals will generate revenues of $2.1 billion in the second quarter.
Valeant Pharmaceuticals’ Bausch + Lomb segment, Branded Rx segment, and U.S. Diversified Products segment reported revenues of $1.1 billion, $593 million, and $299 million, respectively, in the first quarter compared to $1.13 billion, $629 million, and $346 million, respectively, in the first quarter of 2017. That reflects declines of 6%, 14%, and 5%, respectively, YoY.
Valeant Pharmaceuticals reported non-GAAP net income of $312 million in the first quarter compared to $273 million in Q1 2017, reflecting a 14% YoY growth. Wall Street analysts estimate that Valeant Pharmaceuticals will report adjusted net income or non-GAAP net income of $280 million in the second quarter.
Valeant Pharmaceuticals reported cost of goods sold, SG&A (selling, general, and administrative) expenses, and R&D (research and development) expenses of $560 million, $591 million, and $92 million, respectively, in the first quarter compared to $584 million, $661 million, and $96 million in Q1 2017.
Wall Street analysts anticipate that Valeant Pharmaceuticals will report SG&A and R&D expenses of $616.1 million and $92 million, respectively, in the second quarter.
Valeant Pharmaceuticals’ peers in the biopharmaceuticals market are Mylan (MYL), Eli Lilly (LLY), and Bristol-Myers Squibb (BMY). They reported revenues of $2.7 billion, $5.7 billion, and $5.2 billion, respectively, in the first quarter.
Recent developments that could push BHC’s growth
In June, Valeant Pharmaceuticals’ subsidiary Bausch + Lomb launched Soothe Xtra Protection Preservative Free Lubricant Eye Drops for the relief and treatment of dry eye. Its launch strengthens Bausch + Lomb’s eye health portfolio. In the United States, more than 140 million individuals are affected by dry eyes.
In June, Valeant Pharmaceuticals also lunched Ocuvite Blue Light eye vitamins, a nutritional supplement consisting of lutein and zeaxanthin, both carotenoid pigments natural to the human eye.