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Valeant Declares Special Dividend and Plans to Create a Special Dividend Reinvestment Plan
Date:11/4/2010

or Canadian Resident ShareholdersValeant designates the entire amount of this taxable dividend to be an "eligible dividend" for purposes of the Income Tax Act (Canada), as amended from time to time.  This notice meets the requirements of the Income Tax Act (Canada).  Please contact your tax advisor if you have any questions with regard to the designation of the eligible dividend.

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

Caution Regarding Forward-Looking Information and "Safe Harbor" StatementTo the extent any statements made in this document contain information that is not historical, these statements are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and may be forward-looking information as defined under applicable Canadian securities legislation (collectively, "forward-looking statements").

These forward-looking statements can generally be identified by the use of words such as "guidance", "believe", "anticipate", "expect", "target", "estimate", "intend", "plan", "continue" , "will", "may", "would", "could", "potential" and other similar expressions.  Although certain of these statements set out herein are indicated above, all of the statements in this filing that contain forward-looking statements are qualified by these cautionary statements.  Although Valeant believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and
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SOURCE Valeant Pharmaceuticals International, Inc.
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