Valeant's revenue slides as competition heats up (VRX)

joe papaReuters

  • Valeant Pharmaceuticals' revenue fell 10% to $2.16 billion, narrowly missing estimates.
  • The company faced increased competition for some of its major products.
  • Its 2018 revenue forecast was below expectations.

(Reuters) - Valeant Pharmaceuticals' forecast for 2018 revenue fell below Wall Street estimates, as the company faces intensifying competition for some of its major products.

The Canada-based drugmaker's U.S.-listed shares fell 3.4 percent to $17.87 in premarket trading on Wednesday.

See the rest of the story at Business Insider

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