Valeant Loss Narrows

The stock rises.
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Valeant Pharmaceuticals

(VRX)

rose 6% Tuesday after its fourth-quarter loss narrowed.

The company lost $44.8 million, or 48 cents a share, in the quarter, compared with a loss of $99 million, or $1.18 a share, a year ago. Adjusting for certain non-GAAP items, adjusted income from continuing operations was $16.1 million, or 17 cents a share. Analysts surveyed by Thomson Financial were expecting the company to earn 10 cents a share.

Fourth-quarter revenue rose 23% from a year ago to $231.6 million. Analysts were expecting revenue of $215.04 million. Product sales increased 17% to $205.4 million. North America product sales increased 42% for the fourth quarter of 2005.

"Strategic acquisitions and the strength of key promoted brands have enabled us to turn in another year of solid, double-digit revenue growth," said CEO Timothy C. Tyson. "Our promoted brands, excluding products acquired, led us to again exceed the average growth for the industry. Because of this strong top-line growth and our continued focus on operating efficiencies, we achieved every one of our metric targets for the year."

Valeant rose $1.05 to $18.09.

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