Shares of Valeant Pharmaceuticals International (NYSE: VRX) are surging after the Canadian drugmaker provided bullish forecasts for the fourth-quarter and full-year .

As of 1:45 p.m. (EDT), Valeant shares are up almost 16.4 percent.

The company also announced that the integration of Biovail Corp. is almost complete. (The two companies merged last year in a $3.3-billion transaction).

As a result of the merger, 400 of the 500 employees slated to lose their jobs will depart by the end of the first quarter of this year.