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ACCENTIA BIOPHARMACE Message Board

gasmanchad1 2 posts  |  Last Activity: Feb 22, 2016 11:05 PM Member since: Apr 28, 2009
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  • Reply to

    Press release out

    by lelmalem Feb 22, 2016 10:24 PM
    gasmanchad1 gasmanchad1 Feb 22, 2016 11:05 PM Flag

    So basically, the net effect for 2014 & 2015 is they overstated GAAP by about a penny. Tomorrow will hurt for shorts.

  • Reply to

    Press release out

    by lelmalem Feb 22, 2016 10:24 PM
    gasmanchad1 gasmanchad1 Feb 22, 2016 11:04 PM Flag

    Valeant Pharmaceuticals International Inc said it would restate its financial results for 2014 and 2015 after identifying some sales to Philidor that should have been recognized when products were dispensed to patients.

    The company said the restatement will reduce its reported 2014 GAAP earnings by about 10 cents per share and increase 2015 GAAP earnings by about 9 cents per share.

    Valeant cut ties with specialty pharmacy Philidor Rx Services in October after it was revealed Philidor used aggressive tactics to try to increase insurer reimbursement, mostly for dermatology drugs to help the Canadian drugmaker inflate revenue.

    Sentiment: Buy

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