Scott Mlyn | CNBC
Shares of Bausch Health, formerly known as Valeant Pharmaceuticals, jumped as much as 3% in premarket trading Monday after the company raised its 2019 outlook.
The drugmaker raised its full-year revenues from between $ 8.3 billion and $ 8.50 billion to a range of $ 8.35 billion and $ 8.55 billion. It raised its full-year earnings from between $ 3.35 billion and $ 3.5 billion to a range of $ 3.4 billion and $ 3.55 billion.
It also generated first-quarter revenue of $ 2.02 billion, up slightly from $ 2 billion a year ago. It narrowed its loss to $ 52 million from a loss of $ 2.58 billion during the same period last year.
The company's Bausch & Lomb International business comprised approximately 55% of its revenue in the first quarter, bringing in $ 1
Late last month, Bausch Health said its dermatology business, Ortho Dermatologics, received FDA approval for its DUOBRII lotion to treat plaque psoriasis. The drugmaker conducted two clinical trials, with 36% of patients in the first study and 45% in the second study.
Bausch Health shares are up more than 26% this year. The stock has risen more than 30% over the last 12 months through Friday's close.
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