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Valeant Announces Increase to Securities Repurchase Program
Date:5/28/2009

ALISO VIEJO, Calif., May 28 /PRNewswire-FirstCall/ -- Valeant Pharmaceuticals International (NYSE: VRX) announced today that its board of directors has authorized the repurchase of an additional $300 million of its outstanding convertible debt or common stock under the securities repurchase program approved in October 2008. This repurchase authorization raises the aggregate repurchase authorization to $500 million from $200 million over a period ending May 2011. To date, the Company has repurchased $139 million in total of its convertible debt and its common stock out of the $500 million authorized under the securities repurchase program.

Under the securities repurchase program, the Company may repurchase its securities from time to time on the open market, in privately negotiated transactions pursuant to tender offers or otherwise, including pursuant to one or more trading plans, at times and in amounts as the Company deems appropriate. The amount of securities to be purchased and the timing of purchases may be subject to various factors, which may include the price of the securities, general market conditions, corporate and regulatory requirements and alternate investment opportunities. The repurchase program may be modified or discontinued at any time.

About Valeant

Valeant Pharmaceuticals International (NYSE: VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of products primarily in the areas of neurology and dermatology. More information about Valeant can be found at www.valeant.com.

FORWARD-LOOKING STATEMENTS

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SOURCE Valeant Pharmaceuticals International
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