On Thursday, June, 17, 2010 at 4 p.m. ET, General Manager of ICN Polfa Rzeszów SA Mr. Mariusz Gajowniczek rang the Closing Bell at the New York Stock Exchange (NYSE). Mr. Mariusz Gajowniczek, President of the Management Board of ICN Polfa Rzeszów SA at the same time acting as a President of European Operations of Valeant, as an honorable guest rang the Closing Bell on the world’s biggest trading floor, closing the NYSE session. Photo: ICN Polfa Rzeszów SA

Mississauga, Ontario, Canada - November 18, 2010

Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) (the "Company") announced today that Valeant Pharmaceuticals International ("Valeant"), its wholly owned indirect subsidiary, launched its offer of approximately $700 million aggregate principal amount of senior unsecured notes (the "Notes").

The Notes will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities law and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws.

The Notes will be offered in the United States only to qualified institutional buyers under Rule 144A of the Securities Act and outside the United States under Regulation S of the Securities Act.

Since 2008, Valeant has completed eighteen transactions to grow its product portfolios in specialty pharmaceuticals, branded generics and over-the-counter (OTC). These acquisitions have substantially expanded Valeant's market share in the United States, Australia, Mexico, Brazil, Canada, and Poland. Source: Valeant Pharmaceuticals International, Inc.

The Notes have not been and will not be qualified for sale to the public by prospectus under applicable Canadian securities laws and, accordingly, any offer and sale of the securities in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws.

Valeant intends to use the net proceeds from the offering of the Notes to repay its tranche B term loan facility under its credit facilities and for general corporate purposes, including acquisitions and debt repayment and share repurchases (including pursuant to its recently announced securities repurchase program).

Contact Information:

Laurie W. Little
949-461-6002
laurie.little@valeant.com

SOURCE Valeant Pharmaceuticals International, Inc.


About Valeant


Valeant Pharmaceuticals International, Inc. (NYSE/TSX:VRX) is a multi-national specialty pharmaceutical company that develops and markets prescription and nonprescription pharmaceutical products that make a meaningful difference in patients' lives.
Valeant is focused on the neurology and dermatology therapeutic areas primarily in the United States, Canada, Mexico, Brazil, Europe and Australia.

On September 28, 2010, Valeant Pharmaceuticals International and Biovail Corporation completed their previously announced merger to become one company.
This compelling combination is expected to create tremendous value for stockholders of both companies as the businesses benefit from cost savings, greater scale, efficiencies from extending Biovail's corporate structure, and enhanced financial strength and flexibility.

Since 2008, Valeant has completed eighteen transactions to grow its product portfolios in specialty pharmaceuticals, branded generics and over-the-counter (OTC).
These acquisitions have substantially expanded Valeant's market share in the United States, Australia, Mexico, Brazil, Canada, and Poland.

In the second quarter of 2010, Valeant acquired two private branded generic and OTC companies in Brazil, Vital Science Corp. in Toronto, Canada, and Aton Pharmaceuticals, Inc. in New Jersey which specializes in ophthalmology and neurology.

Valeant will maximize its pipeline through strategic partnering to optimize its research and development assets and strengthen ongoing internal development capabilities.

Valeant has an exclusive worldwide partnership agreement with GlaxoSmithKline (GSK) for ezogabine/retigabine, its Phase III compound for the treatment of partial on-set seizures in adult patients and refractory epilepsy.

In October 2009, Valeant filed a New Drug Application (NDA) with the Food and Drug Administration (FDA) and a MAA with the European Medicines Agency (EMEA).
In the U.S., the current Prescription Drug User Fee Act (PDUFA) goal date for ezogabine is November 30, 2010.

Valeant also has a collaboration and license agreement with Alexza Pharmaceuticals, Inc. for Staccato® loxapine for the treatment of agitation in schizophrenia and bipolar disorder patients.
In December 2009, Alexza filed a NDA for Staccato® loxapine with the FDA. The PDUFA goal date is October 11, 2010.

Based in Mississauga, Ontario, Canada, Valeant employs approximately 3,700 people worldwide.

Ezogabine/retigabine and Staccato® loxapine have not been found by the FDA or any other regulatory agency to be safe or effective in the diagnosis, mitigation, treatment or cure of any disease or illness.
It may not be sold or promoted in the United States unless and until the FDA has approved an NDA. Similar restrictions apply in other countries.

http://www.valeant.com/about/index.jsp  


Products & Pipeline


Valeant Pharmaceuticals International, inc. produces medicines that meet the special health problems of patients.

Hissyfit was created to provide a complete range of luxe 3-in-1 beauty products you will WANT to wear from head to toe, every day. With beautiful fragrances, gorgeous colors and advanced botanical extracts, our products are for smart women who want to enhance and protect their beauty for flawless results. Hissyfit products are proudly made using the finest ingredients, including powerful botanical extracts such as Australian indigenous daisy 'cehami' (centipedia cunninghamii). All of the products meet the highest international standards. Source: Valeant Pharmaceuticals International, Inc.

With major products in the areas of dermatology and neurology, branded generics, and consumer and cosmeceutical products, Valeant Pharmaceuticals International Inc. is at the forefront of tomorrow's caring and therapeutic challenges.

The CeraVe Skincare line includes six elegant, yet affordable formulations, making it an ideal choice for your daily skincare regimen. All CeraVe Skincare products provide the benefits of unique, patented MVE® delivery technology and are formulated with essential ceramides and other skin-nurturing and protective ingredients - including vital humectants and emollients - to replenish and retain needed moisture. Source: Valeant Pharmaceuticals International, Inc.

Valeant's development pipeline strategy comprises both new compounds as well as product life cycle management.

KINERASE skincare provides powerful anti-aging efficacy, delivering clinically-proven visible results in gentle skin-caring formulations. The power behind Kinerase is Kinetin (N6-furfuryladenine), a plant-based antioxidant whose anti-aging properties were discovered when scientists found that it prevented plant leaves from drying out and withering. With Kinerase, indulge the luxury of skincare science to reveal youthful, radiant skin. Source: Valeant Pharmaceuticals International, Inc.

Our promising early and late-stage drug candidates have unique formulations and mechanisms of action including retigabine for the treatment of epilepsy and pain, taribavirin of the treatment of chronic hepatitis C, and several dermatology candidates for the treatment of rosacea, acne, and dermatological fungus.

Laboratoire Dr Renaud has been officially selected as the “exclusive skin care supplier” at the 2011 Academy Awards Luxury Suite. Photo: Laboratoire Dr Renaud

Valeant also plans to strategically expand its pipeline by adding new compounds and product extensions through company and product acquisitions.

For more information, see

http://valeant.com/index.jsp  


Key Facts


1960: ICN Pharmaceuticals, Inc. is founded as International Chemical and Nuclear Corporation.

2003: ICN changes its name to Valeant Pharmaceuticals International (NYSE:VRX), signifying the core principles and values underpinning the company and its new strategic focus.

On September 28, 2010, Valeant Pharmaceuticals International and Biovail Corporation completed their merger to become one company.

The following information shows the summary unaudited pro forma financial information for the combined company.

Exchange/Ticker: NYSE/TSX: VRX
Worldwide Employees: approximately 3,700
Corporate Headquarters: Mississauga, Ontario, Canada

Pro forma 2009 Revenues: $1.651 billion
$1.5 billion from product sales
$115 million from alliance and royalty revenue
$37 million from service and other revenue

Pro forma Six Months Ended June 30, 2010 Revenues: $946 million
$867 million from product sales
$64 million from alliance and royalty revenue
$15 million from service and other revenue


Snapshot


• Multinational specialty pharmaceutical company

• Diverse product portfolio with focus on branded pharmaceuticals, branded generics and over-the-counter products

• Specialization in neurology and dermatology

• Product sales with focus on North America, Central Europe, Mexico, Brazil, and Australia

• Development capability

• Manufacturing sites in Canada, Brazil, Poland and Mexico

• Regulatory and medical expertise


Pipeline Highlights


• Ezogabine/retigabine - for the treatment of partial on-set seizures in adult patients and refractory epilepsy

• Staccato® loxapine - for the treatment of agitation in schizophrenia and bipolar disorder patients

• Dermatology compounds IDP 115 (Rosacea), IDP 107 (Acne), IDP108 and IDP113 (Topical Anti-Fungals)

• Taribavirin - for the treatment of hepatitis C (HCV)


Corporate Headquarters
Valeant Pharmaceuticals International, Inc.
7150 Mississauga Road
Mississauga, Ontario L5N 8M5
Canada
(905)286-3000
(905)286-3050(fax)

http://www.valeant.com/about/history.jsp#history  



Mark Durham

Senior Vice President, Human Resources

Mark Durham Photo: Valeant Pharmaceuticals International, Inc.

Mr. Mark Durham serves as Senior Vice-President, Human Resources of Valeant Pharmaceuticals International, Inc.
In this role, he oversees the company’s Human Resources including talent management, benefits, compensation and internal communications.

Previously, Mr. Durham served as Senior Vice President, Human Resources of Biovail Corporation which merged with Valeant Pharmaceuticals International in September 2010 to form Valeant Pharmaceuticals International, Inc.

Mr. Durham joined Biovail as Vice-President, Corporate Human Resources in 2003.
Prior to Biovail, he served at Pharmacia Corporation as Vice-President, Human Resources for Global Marketing and North American country operations from 2000-2003.
Previously, he spent 15 years with Pharmacia and Upjohn, and held senior Human Resources positions in the United States, Asia and Canada.
In addition to Human Resources, Mr. Durham has held positions in Manufacturing and Sales Operations.

Mr. Durham holds a B.A. Hons. degree in Political Science and Economics from Carleton University in Ottawa.

http://www.valeant.com/about/management/bodDetail.jsp?objId=34  



Rajiv De Silva

President, Valeant Pharmaceuticals International, Inc. and Chief Operating Officer, Specialty Pharmaceuticals

Rajiv De Silva Photo: Valeant Pharmaceuticals International, Inc.

Rajiv De Silva is President and Chief Operating Officer of Valeant Pharmaceuticals International, Inc.

Mr. De Silva joined Valeant in January 2009 as Chief Operating Officer of Specialty Pharmaceuticals.
He is responsible for all specialty pharmaceutical operations including: Canada, Australia, Aton, Dow Services, U.S. Neuro, Coria, Kinerase and Specialty R&D (Dow, Neuro and Aton), and North American manufacturing.

Mr. De Silva has broad international experience and his expertise in the global pharmaceutical industry and his track record on the operations side serves as important assets to Valeant.

Previously, Mr. De Silva held various leadership positions with Novartis AG.
His most recent position was President, Novartis Vaccines USA and Head, Vaccines of the Americas.
Mr. De Silva held these positions since 2007, during which time he played a key leadership role at Novartis’ Vaccines & Diagnostics Division and served as a member of the Executive Committee of Novartis Vaccines & Diagnostics.
From 2005 to 2007, he served as President, Novartis Pharmaceuticals Canada.
He originally joined Novartis as Global Head, Strategic Planning for Novartis Pharma AG, in Basel, Switzerland, in 2003.

Prior to his time at Novartis, Mr. De Silva was a partner at McKinsey & Company, a management consulting firm, where he focused his consulting practice on the pharmaceutical industry.
During his nine years at McKinsey, he led multiple efforts related to pharmaceutical strategy, sales and marketing, research and development operations, organization design, and mergers and acquisitions.

Mr. De Silva holds a Bachelor of Science in Engineering, Honors, from Princeton University, a Master of Science from Stanford University, and a Master of Business Administration, with Distinction, from the Wharton School at the University of Pennsylvania.

http://www.valeant.com/about/management/bodDetail.jsp?objId=36  



J. Michael Pearson

Chief Executive Officer, Valeant Pharmaceuticals International, Inc.

J. Michael Pearson Photo: Valeant Pharmaceuticals International, Inc.

J. Michael Pearson is Chief Executive Officer of Valeant Pharmaceuticals International, Inc. He joined Valeant in February 2008 as Chairman and Chief Executive Officer.

Prior to joining Valeant, Mr. Pearson was a Director at McKinsey & Company.
Over a 23-year career, he worked with leading CEOs and was an integral driver of major turnarounds, acquisitions, and corporate strategy.
Within McKinsey, Mr. Pearson held positions including: McKinsey's Board of Directors, head of the global Pharmaceutical Practice and head of McKinsey's mid-Atlantic region.

Mr. Pearson holds a BS and BSE from Duke University, graduating Summa Cum Laude and Phi Beta Kappa, and earned his MBA from University of Virginia, winning the Shermet Award.
Mr Pearson is also an Eagle Scout.

http://www.valeant.com/about/management/bodDetail.jsp?objId=8  

SOURCE Valeant Pharmaceuticals International, Inc.



Valeant in Europe


Valeant's European operations, known as ICN Polfa Rzeszów S.A., has a commercial office in Warsaw and manufacturing facility in Rzeszów, Poland with additional branches in the Czech Republic, Hungary and Slovakia.

For Catalogue of Products, please visit

http://www.icnpolfa.pl/en/catalogue-of-products  


Office in Warsaw


In result of purchasing Czech, Hungarian and Slovakian Companies, ICN Polfa Rzeszów S.A. became a sole owner and representative of Valeant Pharmaceuticals in Europe.

The office, which is located at 15 Marynarska St. in Warsaw, Poland, is the centre of management for Europe. Photo: ICN Polfa Rzeszów SA

It caused a change of hitherto name of the region from „Central Europe” to „Europe” and establishing a position of President Europe, whom the current President of the Management Board – Mariusz Gajowniczek has been appointed.

The office, which is located at 15 Marynarska St. in Warsaw, is the centre of management for Europe.
The Company Management Board, First Management Line including the HR and Administration Director, Regulatory Affairs Director, Business Development Director and Business Units Managers work there.
The office comprises also marketing department, which provides information on needs and expectations of the market and sales department, which plans and supports current production and auxiliary departments.

http://www.icnpolfa.pl/en/valeant-in-europe  


Medicines Factory in Rzeszow, Poland


The factory is a modern manufacturing plant perfectly organized and managed in an excellent way, it has a status of Global Manufacturing Place and nearly 60 years of experience in pharmaceutics manufacturing.

The Medicines Factory in Rzeszów, Poland. Photo: ICN Polfa Rzeszów SA

Since 2005 the manufacture of over fifty preparations from some European Union countries has been transferred to the Medicines Factory in Rzeszow.

Currently it manufactures approximately 150 different medical products in forms of tablets, coated tablets, drops, syrups, suspensions, sticks, capsules and ointments.

The Medicines Factory in Rzeszów, Poland. Photo: ICN Polfa Rzeszów SA

The Factory has its own scientific and research background, which elaborates technology and analytics of new medical products on its own.
However, it mainly adapts the obtained licenses to the existing new generation manufacturing conditions.

The Medicines Factory in Rzeszów, Poland. Photo: ICN Polfa Rzeszów SA

The synchronized technological processes take place in three manufacturing departments: Synthesis, Drug Forms I, Drug Forms I II (new manufacturing unit).
All departments are equipped with appliances of renown companies manufacturing machines for pharmacy such as: GLATT, LEDIGE, KILIAN, AMRP, LUWA.

The Medicines Factory in Rzeszów, Poland. Photo: ICN Polfa Rzeszów SA

The superfast IT network and SAP system installed in our Company allows for complex management in manufacturing, administration and financial sphere.
Electronic information flow is also used for many other purposes, i.e. control of air conditions in the rooms: temperature, humidity, dust level.

Air conditioning applied in Medicines Factory in Rzeszów is adjusted to technological conditions required for medicines manufacturing under GMP conditions, taking in consideration comfort of work of persons participating in manufacturing processes.

The Quality Assurance System applied in the Company is based on worldwide GMP (Good Manufacturing Practice) system, confirmed by obtained certifications, which ensures the clients, that the pharmaceutics manufactured by ICN Polfa Rzeszów S.A. meet the international standards.

Many of preparations manufactured in Rzeszów are innovative products, which set up new standards of treatment.

The Medicines Factory in Rzeszów, Poland. Photo: ICN Polfa Rzeszów SA

The organization combines manufacturing of pharmaceutics with full protection of the environment.
This rule is the fundamental idea integrally connected with development of ICN Polfa Rzeszów S.A.
Therefore, thanks to consequent Policy of modernization and investments we have for many years, which results from the philosophy of management by the quality applied in the Company, nowadays the Medicines Factory in Rzeszów is set as a pattern to be followed in respect of pro-ecological solutions.

The utilitarian surface of the manufacturing buildings includes the area of 21,771 m2, including: manufacturing: 13,559 m2, packaging: 8,213 m2, warehouse: 10,039 m2.
The plant buildings in Rzeszow, including 45m administration building, have an interesting and varied architectonic body, they are also made of innovative materials (i.e. the glass of the highest light permeability) and they are the flagship of Rzeszow city architecture.

http://www.icnpolfa.pl/en/Our-factory  

ICN Polfa Rzeszów S.A. is a highly regarded company in Poland and was awarded first place out of 374 finalist companies as "The Most Innovative Company 2008" in two categories: "The Most Innovative Company 2008 - Large Companies" and "The Most Innovative Company 2008 - An Organization Innovation."

The fourth edition of these prestigious awards was organized and sponsored by 'Lewiatan', a Polish Confederation of Private Employers, BRE Bank, one of the largest banks in Poland, The Dun & Bradstreet Co, 'Rzeczpospolita', a popular daily newspaper and 'Manager Magazine', a monthly management magazine.

http://valeant.com/expertise/europe.jsp  



Mariusz Gajowniczek

The President of Management Board of ICN Polfa Rzeszów S.A. and
President Europe of Valeant Pharmaceuticals International

Mariusz Gajowniczek Photo: ICN Polfa Rzeszów SA

Mariusz Gajowniczek is the President of Management Board of ICN Polfa Rzeszów S.A. and President Europe of Valeant Pharmaceuticals International.

The graduate of School of Planning and Statistics in Warsaw, Foreign Commerce Department.
He works for pharmaceutical industry since 1990, previous job for Roche Polska.

http://www.icnpolfa.pl/en/The-management-board  

SOURCE ICN Polfa Rzeszów SA

For more information, please visit

http://valeant.com/index.jsp  



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