The Financial Post reports in its Friday edition Valeant Pharmaceuticals International raised its full-year adjusted profit forecast Thursday and said it would seek acquisitions in markets avoided by its stiffest competition. A Reuters dispatch to the Post says Valeant now expected an adjusted 2013 profit, which it calls cash earnings, of between $5.55 and $5.85 per share, up from its previous forecast of $5.45 to $5.75. Valeant is pursuing deals with strong cash flow in high-growth areas where big pharmaceutical companies have little presence, chief executive officer Michael Pearson said, ruling out Western Europe, Japan, China and India. "I don't think small players can win in these markets when all the big pharma is highly focused on (them)," Mr. Pearson said on a conference call. "What we're not interested in is being a niche player in these markets." The company said it would not comment on market speculation, which has focused in the past week on merger talks with U.S. generic drugmaker Actavis Inc. The company earned $405.2-million, or $1.30 per share, on an adjusted basis in the first quarter, a rise of 12 per cent from $360.3-million in the same quarter last year.