will restructure its operations to reduce costs and accelerate earnings growth, and will focus its research and development resources on select late stage pipeline products.
The company expects to record a restructuring charge of about $80 million to $100 million, of which a portion will be recorded in the first quarter of 2006. The company said around 25% to 35% of the restructuring charge will be in cash.
Valeant expects adjusted earnings a share to break-even in the first quarter of 2006, excluding the impact of any restructuring charges.
Excluding costs associated with the restructuring, the company expects adjusted earnings of more than 50 cents a share in 2006 and $1 a share in 2007. Valeant reiterates its 2008 goal of $1.90 in adjusted earnings a share, excluding any impact from Viramidine.
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