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Valeant Pharmaceuticals Adds Corporate Governance Expert Abe Friedman to its Slate of Proposed Cephalon Directors
Date:4/18/2011

MISSISSAUGA, Ontario, April 18, 2011 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) today filed a revised preliminary consent solicitation statement in which it named Mr. Abe M. Friedman to its slate of proposed directors in connection with its previously announced solicitation of written consents from the stockholders of Cephalon, Inc. (NASDAQ: CEPH).  Mr. Friedman will join the seven-member slate of proposed directors previously announced by Valeant, which comprises Santo J. Costa, Richard H. Koppes, Lawrence N. Kugelman, Anders Lonner, John H. McArthur, Thomas G. Plaskett and Blair H. Sheppard.

Mr. Friedman has immense corporate governance expertise and experience in issues affecting public companies and their shareholders and has spent much of his career as a dedicated shareholder rights advocate.  Mr. Friedman was until March 2011 a Managing Director and the Global Head of the Corporate Governance & Responsible Investment functions at BlackRock, Inc.  He earlier served as a Managing Director and the Global Head of Corporate Governance at Barclays Global Investors ("BGI") and prior to that as the Director of Corporate Governance and Proxy Voting for the Americas at BGI, which merged with BlackRock in 2009.  Prior to his time at BGI, Mr. Friedman was chief policy officer and general counsel of Glass, Lewis & Co., LLC, a corporate governance and proxy research firm.  He joined Glass Lewis upon its founding and developed and led Glass Lewis' proxy research business.

"We are very pleased to add a highly respected expert in corporate governance matters to the proposed slate of directors," stated J. Michael Pearson, chairman and chief executive officer of Valeant. "We continue to believe that Cephalon stockholders have the right to determine the merits of Valeant's offer and Cephalon's poison pill denie
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SOURCE Valeant Pharmaceuticals International, Inc.
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