NEW YORK (AP) — Shares of Medicis Pharmaceutical Corp. rose Wednesday after the company posted strong results for the first quarter and raised its profit and sales estimates.

THE SPARK: Medicis said its adjusted profit totaled 60 cents per share in the first quarter, and revenue climbed 22 percent, to $201.7 million from $164.9 million. Both results were far above Wall Street estimates. Analysts were forecasting a profit of 42 cents per share on $185.2 million in revenue, according to FactSet.

Medicis reported improved revenue from acne drugs, including its biggest single product, Solodyn. Sales of non-acne products improved on greater sales of its wrinkle treatment Restylane and the new products Medicis acquired when it bought Graceway Pharmaceuticals in late 2011. Medicis said its non-dermatology revenue more than doubled to $19.2 million from $9.2 million, also because of products it acquired from Graceway.

THE BIG PICTURE: Medicis has been seeking ways to reduce its dependence on revenue from Solodyn, as some strengths of the drug have lost sales to generic competition. The Scottsdale, Ariz., company bought Graceway in December for $455 million, which expanded its Canadian business, gave it non-acne products like the actinic keratosis treatment Zyclara, and non-dermatology products like the Maxair Autohaler for lung disease.

In the first quarter, Medicis said sales of non-acne products climbed 42 percent to $74 million. The company reported $108.5 million in acne product sales and a combined $93.2 million from non-acne and non-dermatology sales.

Medicis said it now expects to earn between $2.62 to $2.86 per share in 2012, and forecast $830 million to $862 million in revenue. Previously it estimated its income would be between $2.51 and $2.79 a share, and revenue would be $817 million to $871 million.

Analysts expected Medicis to report a profit of $2.68 per share and revenue of $845.9 million on average.

SHARE ACTION: Medicis Pharmaceutical shares rose $1.31, or 3.5 percent, to $38.82 in afternoon trading. The stock is now trading at its highest prices in more than six months.

Article source: http://news.yahoo.com/medicis-rises-1q-results-greater-outlook-180653284--finance.html

A UK trial is investigating whether a curry ingredient can improve the treatment of patients with advanced bowel cancer.

Scientists will supplement standard chemotherapy with pills containing curcumin, a compound found in the yellow curry spice turmeric.

Laboratory tests have suggested that curcumin can boost the ability of chemotherapy drugs to kill bowel cancer cells.

The compound is known to have powerful anti-inflammatory properties and also acts as an antioxidant.

It has traditionally been used as an alternative remedy for a wide range of problems including liver and digestive disorders, allergies and acne.

Some studies have indicated it may slow the spread of cancer, improve the effectiveness of chemotherapy and protect healthy cells from the effects of radiotherapy.

However, hard evidence from properly conducted scientific trials is lacking.

The two-year trial, conducted by scientists from Cancer Research UK and the University of Leicester, aims to recruit about 40 patients with bowel cancer that has spread to the liver.

Patients with advanced bowel cancer are normally given a treatment called FOLFOX which combines three chemotherapy drugs.

But many – between 40 and 60 per cent – do not respond to the therapy, and those who do may suffer side effects such as tingling and nerve pain.

Chief investigator Professor William Steward, director of the Experimental Cancer Medicine Centre (ECMC) at the University of Leicester, said: “Once bowel cancer has spread it is very difficult to treat, partly because the side effects of chemotherapy can limit how long patients can have treatment.

“The prospect that curcumin might increase the sensitivity of cancer cells to chemotherapy is exciting because it could mean giving lower doses, so patients have fewer side effects and can keep having treatment for longer.

“This research is at a very early stage but investigating the potential of plant chemicals to treat cancer is an intriguing area that we hope could provide clues to developing new drugs in the future.”

The study will take place at Leicester Royal Infirmary and Leicester General Hospital.

Three-quarters of the patients will be given curcumin tablets for seven days before undergoing FOLFOX treatment. The remainder will only be treated with FOLFOX.

Colin Carroll, a 62-year-old compliance consultant who lives near Loughborough, is one of the first patients to join the trial. He agreed to take part after being diagnosed with advanced bowel cancer in January.

He said: “The diagnosis came as a big shock because I’d had no symptoms apart from some occasional cramps.

“I’d had a few tests which had come back clear and I’d just been booked for a CT (computed tomography) scan when I was rushed to hospital with a suspected intestinal blockage.”

Scans revealed bowel cancer which had spread to the liver.

Three days after being admitted to Leicester Royal Infirmary, Mr Carroll underwent emergency surgery to bypass the blockage.

He added: “It’s been like a whirlwind. To have something creep up on you like that when you have absolutely no control over it really makes you want to fight back.

“That’s why I had no difficulty in agreeing to take part in the trial.

“I’ve met some amazing people since January and my treatment on the NHS has been fantastic. The way I see it is that I’m being given the best possible chance so in that sense I feel very fortunate.”

Dr Joanna Reynolds, Cancer Research UK’s director of centres, said: “The Experimental Cancer Medicine Centres network supports research into some of the most novel and exciting new anti-cancer therapies, often providing the first insights into their effect on cancer patients.

“By doing a clinical trial like this we will find out more about the potential benefits of taking large amounts of curcumin, as well as any possible side effects this could have for cancer patients.”

Article source: http://au.news.yahoo.com/thewest/lifestyle/a/-/lifestyle/13619460/curry-ingredient-could-kill-cancer-cells/

By The Canadian Press

MONTREAL – Valeant Pharmaceuticals International, Inc. (TSX:VRX.TO – News) has a deal to acquire AcneFree, an over-the-counter skin treatment for $64 million plus performance payments.

Canada’s largest publicly traded drug maker says the assets that it will acquire from skincare company University Medical Pharmaceuticals Corp., generated US$32 million in revenue last year.

Valeant’s chief executive Michael Pearson says the additional products will immediately add to the company’s operations after the deal closes and will provide an opportunity to grow the company’s over-the-counter business.

The deal was announced as Valeant reported a $12.9-million net loss or four cents per share in the first quarter, before adjustments.

The loss included increased provisions for restructuring and acquisition-related costs, legal settlements and a variety of non-cash charges — all higher than in the first quarter of 2011 when Valeant had a US$6.5-million net profit.

The company formerly known as Biovail has made numerous acquisitions as it revamps its business and changes its focus in response to declining sales of its former flagship product, the prescription anti-depressant Wellbutrin XL.

“The addition of a leading OTC acne treatment will provide us with the ability to expand our OTC business,” Pearson said in a statement.

He also announced an increase in the company’s guidance for 2012 cash earnings per share. The new range is US$4.45 to US$4.70 — up 50 cents per share on both ends of the spectrum from guidance issued in February.

In the first quarter ended March 31, Valeant reported $1.14 cents per share of cash earnings (US$360.3 million), or 99 cents per share (US$311.8 million) if the impact of a divestiture is excluded.

The cash earnings are an adjusted measure of profitability that excludes a number of items reported in net earnings under standard accounting.

Among other things, the cash earnings excluded $69.8 million of restructuring and acquisition-related costs in the first quarter, up from $19 million a year earlier, and a $205.2 million item for amorization, up from $114.3 million.

Valeant’s total revenue in the quarter was US$856.1 million, up 52 million from the first quarter of 2011.

Its shares were up 58 cents at C$56.28 on the Toronto Stock Exchange.

Article source: http://ca.finance.yahoo.com/news/valeant-acquire-acne-medicine-posts-131802157.html

MONTREAL, May 3, 2012 /PRNewswire/ — Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) announced today that Valeant has agreed to acquire certain assets from University Medical Pharmaceuticals Corp., a specialty pharmaceutical company focused on skincare products, for approximately $64 million plus potential milestones based upon attainment of future revenue targets.  University Medical’s main brand is AcneFree, a leading retail over-the-counter (OTC) acne treatment. 

Total revenue in 2011 from the acquired assets was approximately $32 million. The transaction is expected to close by mid-year, subject to certain closing conditions including expiration of requisite regulatory waiting periods, and is expected to be immediately accretive.

“The addition of a leading OTC acne treatment will provide us with the ability to expand our OTC business,” stated J. Michael Pearson, chairman and chief executive officer.  “We believe that we can build upon our success with CeraVe in the retail channel through increased offerings to consumers.  These new products will be immediately accretive to our operations and have not been factored into our 2012 financial guidance.”

About Valeant Pharmaceuticals International, Inc.
Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics.  More information about Valeant Pharmaceuticals International, Inc. can be found at www.valeant.com.

Caution Regarding Forward-Looking Information
To the extent any statements made in this document contain information that is not historical, these statements are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and may be forward-looking information as defined under applicable Canadian securities legislation (collectively, “forward-looking statements”).

These forward-looking statements relate to, among other things, the closing of the acquisition of certain assets of University Medical by Valeant, the impact of such assets on Valeant’s consumer dermatology portfolio, and the expected timing of the acquisition to be accretive.  Forward-looking statements can generally be identified by the use of words such as “believe”, “anticipate”, “expect”, “estimate”, “intend”, “continue”, “plan”, “project”, “will”, “may”, “should”, “could”, “would”, “target”, “potential” and other similar expressions.  In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.  Actual results may differ materially from those expressed or implied in such statements.  Important factors that could cause actual results to differ materially from these expectations include, among other things, the closing of the acquisition of certain assets of University Medical by Valeant, the impact of such assets on Valeant’s consumer dermatology portfolio, and the expected timing of the acquisition to be accretive, and the risk factors as detailed from time to time in Valeant’s reports filed with the Securities and Exchange Commission (“SEC”) and the Canadian Securities Administrators (“CSA”). 

(Logo: http://photos.prnewswire.com/prnh/20101025/LA87217LOGO)

Contact Information:
Laurie W. Little
949-461-6002
laurie.little@valeant.com

Article source: http://finance.yahoo.com/news/valeant-pharmaceuticals-agrees-acquire-acnefree-121100023.html

Valeant Pharmaceuticals International, Inc. VRX-T has a deal to acquire AcneFree, an over-the-counter skin treatment for $64-million (U.S.) plus performance payments.

Canada’s largest publicly traded drug maker says the assets that it will acquire from skincare company University Medical Pharmaceuticals Corp., generated $32-million in revenue last year.

Valeant’s chief executive officer Michael Pearson says the additional products will immediately add to the company’s operations after the deal closes and will provide an opportunity to grow the company’s over-the-counter business.

The deal was announced as Valeant reported a $12.9-million net loss or four cents per share in the first quarter, before adjustments.

The loss included increased provisions for restructuring and acquisition-related costs, legal settlements and a variety of non-cash charges — all higher than in the first quarter of 2011 when Valeant had a $6.5-million net profit.

The company, formerly known as Biovail, has made numerous acquisitions as it revamps its business and changes its focus in response to declining sales of its former flagship product, the prescription anti-depressant Wellbutrin XL.

“The addition of a leading OTC acne treatment will provide us with the ability to expand our OTC business,” Mr. Pearson said in a statement.

He also announced an increase in the company’s guidance for 2012 cash earnings per share. The new range is $4.45 to $4.70 — up 50 cents per share on both ends of the spectrum from guidance issued in February.

In the first quarter ended March 31, Valeant reported $1.14 cents per share of cash earnings ($360.3-million), or 99 cents per share ($311.8-million) if the impact of a divestiture is excluded.

The cash earnings are an adjusted measure of profitability that excludes a number of items reported in net earnings under standard accounting.

Among other things, the cash earnings excluded $69.8-million of restructuring and acquisition-related costs in the first quarter, up from $19-million a year earlier, and a $205.2-million item for amortization, up from $114.3-million.

Valeant’s total revenue in the quarter was $856.1-million, up $52-million from the first quarter of 2011.

Article source: http://www.theglobeandmail.com/globe-investor/valeant-to-acquire-acne-medicine-posts-first-quarter-loss/article2421256/?utm_medium=Feeds%3A%20RSS%2FAtom&utm_source=Home&utm_content=2421256