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Valeant Pharmaceuticals Reports Fourth Quarter and Full Year Financial Results
Date:2/24/2009

sented. Non-GAAP financial measures are not prepared in accordance with GAAP; therefore, the information is not necessarily comparable to other companies and should be considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. Note: Currency effect is determined by comparing adjusted 2008 reported amounts, calculated using 2007 monthly average exchange rates, to the actual 2007 reported amounts. Constant currency sales is not a GAAP- defined measure of revenue growth. Constant currency sales as defined and presented by us may not be comparable to similar measures reported by other companies. Valeant Pharmaceuticals International Table 4 Consolidated Condensed Statement of Cost of Goods Sold and Non-GAAP Operating Income - by Segment For the Three and Twelve Months Ended December 31, 2008 and 2007 (In thousands) Three Months Ended Cost of sales December 31, % of % of product product 2008 sales 2007 sales Specialty pharmaceuticals $18,442 21% $17,532 19% Branded generic - Latin America 9,193 25% 14,083 32% Branded generic - Europe 13,919 39% 13,277 37% Corporate 35 - 84 - $41,589 26% $44,976 26% Twelve Months Ended December 31, % of % of
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