The company reported a total revenue of $2.7 billion in the quarter, an increase of 34 per cent over last year and $200 million over the first quarter outlook. Pearson said the results were driven by strong performances in the U.S. market, as well as sales in Asia, Australia, Canada, Mexico, the Middle East and North Africa.
Valeant did take a $173-million hit from the negative impact of foreign exchange in the second quarter.
The company completed its $11.1-billion acquisition of Salix Pharmaceuticals Ltd. earlier this year, which contributed $313 million in revenue.
The U.S. Food and Drug Administration approved Salix's irritable bowel syndrome drug, Xifaxan, in May. Prior to the acquisition, Salix had issues with an inventory pileup, though Pearson says levels have been reduced from four to five months, to three months to 3.5 months.
The company laid off 258 Salix employees in April as part of a $500-million cost-savings plan which Pearson said will reach $530 million by the end of the year.