Valeant Pharmaceuticals Posts a Huge Third-Quarter Profit -- but There's a Catch

Valeant Pharmaceuticals Posts a Huge Third-Quarter Profit -- but There's a Catch

Valeant Pharmaceuticals (NYSE: VRX) CEO Joe Papa has referred to the company in the past as "the turnaround opportunity of a lifetime." A key part of his turnaround strategy has been reducing the drugmaker's debt, an area where Valeant has made significant progress. However, lowering debt doesn't translate to growth. And so far in 2017, growth has been elusive for Valeant.

The company announced its third-quarter results before the market opened on Tuesday. This time around, Valeant was actually able to report some growth -- although it came with an asterisk. Here are the highlights.

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Source: Fool.com