(Adds comments on acquisitions, CEO contract, Q4 outlook and share activity)
By Rod Nickel
Jan 8 (Reuters) - Valeant Pharmaceuticals International Inc on Thursday raised its 2015 guidance for revenue and adjusted profit more than expected, as the drugmaker sees growth from existing products and a stream of acquisitions.
The deal-making Laval, Quebec-based company failed in November to buy Allergan Inc, when that company accepted a higher offer from Actavis PLC.
Chief Executive Officer Michael Pearson said the company was likely to focus in 2015 on buying smaller, private companies.
"I look at the list now of our over 100 active conversations (with potential targets), the vast, vast majority are private companies," he said. "That's been our history, that's where our pipeline is now."
The company expects to see revenue growth from existing operations, a key area of criticism by Allergan during the hostile takeover battle, to reach 10 to 12 percent in 2015.
Pearson said he had extended his contract by five years and compensation would be based on the company's stock appreciating.
Valeant said that it expected in 2015 to reap revenue of $9.2 billion to $9.3 billion and cash earnings of $10.10 to $10.40 per share, exceeding last year's results.
Analysts on average estimated $10.05 in cash earnings, or adjusted profit, and $9.03 billion in revenue, according to Thomson Reuters I/B/E/S. Valeant had previously targeted $10 in cash earnings per share and $9.1 billion in revenue.
Valeant shares rose 3.3 percent before normal trading hours in New York.
Valeant said it expected to report cash earnings of more than $2.55 per share and revenue of $2.2 billion in the recently completed fourth quarter, while analysts expected cash earnings of $2.49, and $2.24 billion in revenue. Valeant had previously guided to fourth quarter revenue of $2.1 billion to $2.3 billion and cash earnings of $2.45 to $2.55 per share.
(Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Chizu Nomiyama)