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These 3 charts show how drastically Valeant has changed over the past year (VRX)

Published by Business Insider on Tue, 09 Aug 2016


Valeant reported mixed earnings Tuesday morning, and the stock is up 13%."I am continuously encouraged by the commitment of our employees who work hard daily, rebuilding our relationships with prescribers, patients and payors, and regaining the trust of our debt holders and shareholders," Valeant CEO Joseph Papa said in a release.The earnings gave an important glimpse into the effects of some of the headlines Valeant's made over the last year. In particular, its product revenue.XifaxanXifaxan, the drug that was expected to make $1 billion in 2016, came in at $200 million in revenue for the second quarter 2016 and wasthe top brand for Valeant this quarter. On the earningscall, Papa said he expects Xifaxan to hit its peak performance in a few years, with the potential to make up to $5 billion.But not everyone is convinced."Based on the top line results, we think Xifaxan was probably weak and not on its way to the $1 billion mark VRX had forecast for 2016," Wells Fargo analyst David Maris said in a note Tuesday.Isuprel and NitropressHeart medications Isuprel and Nitropress were two of the biggest offenders of price increases in 2015. They were the two drugs singled out fromValeant's portfolio by Congress at the beginning of their probes,and it showed in their Q2 results. Isuprel's revenue was down 19% year-over-year, while Nitropress' was down 46%.Conversely, Cuprimine, a drug that Congress singled out in later hearingsthat's used to treat a rare disordercalled Wilson's disease, sawrevenue surge 202% during2015.JubliaThe $1,000 toe fungus drug got hit hard in Q2, with revenue down almost 70% compared to a year ago. That may be in part because companies like CVS are asking patients to try other, cheaper, solutions first before turning to the Valeant product.DermatologyValeant's dermatology business has been hit hard, with revenue down more than 50% year-over-year. One acne drug in particular, Solodyn (which used to be one of Valeant's top 10 brands), made $65 million in revenue during Q2 2015, while this year, it brought injust $17 million during the second quarter. Solodyn was one of the drugs distributed by Philidor, the mail-order pharmacy that came under scrutiny last fall. Valeant subsequently cut ties with the company. Valeant has since partnered with Walgreens and offered an up to 10% discounton dermatologyand ophthalmology products.Perhaps by next year, these product revenues changeswill look a little less extreme.SEE ALSO:CVS just made a move that could help customers save billions on prescription drugsDON'T MISS:Scientists just made a discovery that could change how we treat diseases that affect 20 million peopleJoin the conversation about this storyNOW WATCH: How much sex happy couples have every month
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