VALEANT RISES ON RESTATEMENT

Valeant Pharmaceuticals International Inc. shares got a bounce Tuesday after it announced its restatement of results for 2014 and 2015 involving US$ 58 million of sales to Philidor were recognized at the wrong time. The company said it should have recognized the revenue when the products were dispensed to patients, rather than when delivered to Philidor. Valeant closed Tuesday in Toronto at $109.40, up 5.03 per cent or $ 5.24 on the day. The stock had fallen more than $25 per share in the previous three sessions.

F. CARTER SMITH / BLOOMBERG NEWS Ali Al-Naimi, Saudi Arabia’s petroleum and mineral resources minister, speaks Tuesday in Houston, Texas.