Bausch Health Companies Inc (BHC)

[mlkrborn]

8:08AM Valeant Pharmaceuticals beats by $0.05, beats on revs; guides FY11 EPS above consensus (VRX) 50.00 : Reports Q1 (Mar) earnings of $0.56 per share, excluding non-recurring items, $0.05 better than the Thomson Reuters consensus of $0.51; revenues rose 157.3% year/year to $565 mln, may not compare to the $519 mln consensus. Included in total revenue was $36.0 million of alliance and royalty revenue related to the out-license of product rights for Cloderm, a mid-potency steroid with an annual revenue run rate of approximately $7 million, that was completed on March 31, 2011. Co issues upside guidance for FY11, sees EPS of $2.65-2.90 vs. $2.62 Thomson Reuters consensus.