This morning, Valeant Pharmaceuticals (NYSE:VRX) reported second quarter earnings of $10.9 million, or 3 cents per share, as revenue climbed to $1.1 billion. Excluding one-time items, the company would have earned $1.34 per share, topping Wall Street estimates. The drugmaker saw strong sales growth from both developed and emerging markets, but at the same time saw a sharp increase in selling, general and administrative expenses. Despite the higher costs, the company raised its full year earnings guidance to the range of $6.00 to $6.20. Shares of VRX were headed higher on Wednesday morning.
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