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Valeant Pharmaceuticals Announces Mailing of Offer and Take-Over Bid Circular to Shareholders of Afexa
Date:9/9/2011

the take-over bid circular mailed today to Afexa's shareholders. The take-over bid circular and related documents and the Directors' Circular will be filed today on SEDAR and will be available at www.sedar.com. The Offer is subject to a number of customary conditions, including there being deposited under the Offer and not withdrawn at the expiration of the Offer such number of Common Shares that represent at least 66 2/3% of the outstanding Common Shares calculated on a fully-diluted basis, there being no material adverse changes to Afexa's business and the receipt of all necessary regulatory approvals.

Afexa has retained Georgeson Shareholder Communications Canada Inc. as information agent. Computershare Investor Services Inc. is the depositary for the Offer. Any questions or requests for assistance or further information on how to tender Common Shares to the Offer may be directed to, and copies of the above referenced documents may be obtained by contacting, the information agent at 1-866-676-3005 or by email at askus@georgeson.com or by contacting the depositary at 1-800-564-6253, or by email at corporateactions@computershare.com. Shareholders whose Common Shares are registered in the name of a broker, investment dealer, bank, trust company or other nominee should contact such nominee for assistance in depositing their Common Shares to the Offer.

About Valeant Pharmaceuticals International, Inc.

Valeant Pharmaceuticals International, Inc. is a multi-national specialty pharmaceutical company that develops, manufacturers 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.

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SOURCE Valeant Pharmaceuticals International, Inc.
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