Valeant, Actavis results mixed

Investor's Business Daily

Valeant Pharmaceuticals Int'l (VRX) said cash EPS rose 14% to $1.30, beating views by 5 cents. Sales rose 25% to $1.07 bil, under estimates of $1.09 bil. The Canadian drugmaker raised its full-year EPS guidance 10 cents to $5.55-$5.85. Analysts are expecting $5.59. Shares fell 2.1% to 72.15. Valeant's rumored buyout target Actavis (ACT) said Q1 EPS jumped 21% to $1.99, beating views by 13 cents. Sales rose 24% to $1.9 bil, under analyst views of $1.97 bil. The generic-drug maker raised its '13 EPS outlook by 40 cents to $8.10-$8.50. Analysts are expecting $8.09. Shares rose 2% to 106.49.

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