February 28, 2018 / 12:10 PM / 9 months ago

Valeant reports profit in 4th quarter on $1.3 billion tax benefit

Feb 28 (Reuters) - Valeant Pharmaceuticals on Wednesday reported a profit in the fourth quarter compared to a year-earlier loss, as it booked a one-time benefit because of new U.S. tax laws.

The Canada-based drugmaker reported a net income of $513 million or $1.45 per share in the quarter ended Dec. 31, compared to a loss of $515 million or $1.47 per share a year earlier.

It recorded a one-time benefit from income taxes of $1.32 billion. (Reporting by Manas Mishra in Bengaluru; Editing by Sai Sachin Ravikumar)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below