Valeant Pharmaceuticals has reported a net income of $7.64m, or $0.02 per diluted share, for the third quarter ended 30 September 2012 compared to $40.86m, or $0.13 per diluted share, for the third quarter ended 30 September 2011.

Total revenues for third quarter of 2012 were $884.14m compared to $600.58m for the third quarter of 2011.

The company reported a net loss of $26.88m, or $0.09 per diluted share, for the nine months ended 30 September 2012 compared to a net income of $103.70m, or $0.32 per diluted share, for the nine months ended 30 September 2011.

Total revenues of $2.56bn were reported for the first nine months of 2012 compared to $1.77bn for the first nine months of 2011.

Valeant Pharmaceuticals chairman and chief executive officer Michael Pearson said the third quarter results display the company ability to deliver strong growth.

"We are very pleased with the third quarter's double-digit organic growth and record Cash EPS. Our U.S. Dermatology business had an outstanding quarter, the trends in our U.S. Neurology and Other business are clearly improving, and our businesses outside the U.S. continue to perform strongly," Pearson added.

"This continued strength in our base business, coupled with the potential approval of efinaconazole (IDP-108) and the pending acquisition of Medicis, should provide us with a solid foundation to deliver strong continued growth in 2013 and beyond."