Bausch Health Corporations Inc. posted a internet loss of $873 million US within the second quarter as the corporate previously generally known as Valeant Prescription drugs skilled an even bigger working loss and an even bigger provision for earnings taxes than final 12 months.
The corporate, which reviews in U.S. foreign money, says it recorded a $138 million provision for earnings taxes that represented a $343-million improve from the identical time final 12 months, when Valeant recorded a tax profit.
Its working loss for the quarter ended June 30 was $245 million, which in contrast with a year-earlier working revenue of $175 million.
The working loss was due primarily to an asset impairment linked to the corporate’s loss of exclusivity on a product.
The online loss amounted to $2.49 per share, in contrast with a loss of 11 cents per share within the second quarter of 2017.
Bausch Health’s adjusted internet earnings fell to $327 million from $362 million a 12 months in the past, whereas income fell to $2.13 billion from $2.23 billion within the second quarter of 2018.