Valeant Pharmaceuticals Skyrocketing (VRX)

Valeant Pharmaceuticals Int (USA) VRX is skyrocketing on the back of the company raising its guidance at a conference call. The company said it now sees earnings of 44-48 cents, versus estimates of 45 cents. It also said it sees revenues of $51-$520 million versus estimates of $502.7 million estimate. Valeant now sees total 2011 revenues of $2.1-2.3 billion, versus $2.1 billion estimates. Valeant 80% of the 500 people who are losing their jobs as a result of the merger between Valeant and Biovail will be gone by the end of the first quarter of this year.