The division's organic sales grew by a strong 10 per cent in the fourth quarter on strong gains in
"Fingers crossed, Bausch and Lomb is operating on all cylinders," chairman and CEO
The results pushed the company's shares to an all-time high of
Adjusted for one-time items, Valeant earned
The company had been expected to earn
After years of losing market share, Baush and Lomb's new products and the growth of its surgical business is putting the division "back into the contact lens game," Pearson said, citing comments of optometrists at a recent conference.
"We are very pleased with this performance so far and expect to see this continue in 2014," he told analysts.
Pearson said doctors are looking for alternatives to competitors like Swiss-based Alcon and are "hungry for a second strong competitor."
"Organic growth is a pleasant surprise," he wrote in a report, noting it has been an area of focus for many investors over recent quarters.
Same-store organic growth was two per cent, including the impact of genericized products and 12 per cent when excluding that factor.
While its U.S. business decreased three per cent because of generics, sales in the rest of the world grew 12 per cent and emerging markets were up eight per cent.
The company, based in
Valeant said its developed markets revenue was
The company's emerging markets revenue in such regions as
For the full year, it lost
The company also reaffirmed its 2014 cash earnings per share guidance of between
The guidance does not include the acquisition of
Valeant said its appetite for both small and large acquisitions remains intense, but that it will only pursue deals that make financial sense.
It sees opportunities in many areas and geographies including
"We are still quite confident that over the course of the year we'll be successful with at least one significant transaction," Pearson said.
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