Valeant reports 11% decrease in total revenues in second quarter

Valeant Pharmaceuticals International announced second quarter 2016 financial results, including that total revenues decreased 11% to $2.42 billion in the time period compared to $2.73 billion in the second quarter of 2015, according to a press release.The loss was “driven primarily by a decline in product sales revenues from our existing business, as well as negative foreign currency exchange impact, partially offset by incremental product sales revenues from acquisitions completed in 2015,” according to the release.