Valeant adjusted profit misses estimates; FY forecast cut

(Reuters) - Valeant Pharmaceuticals International Inc reported a smaller-than-expected quarterly adjusted profit due to faltering sales of its dermatology products and irritable bowel syndrome drug, and the company cut its full-year profit and revenue forecasts. Valeant's U.S.-listed shares fell more than 10 percent in premarket trading on Tuesday. Up to Monday's close of $19.13, the stock had fallen more than 90 percent since mid-2015 when the company's pricing and business practices started to come under intense scrutiny from politicians and regulators.