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Valeant Pharmaceuticals Announces Management Change
Date:9/13/2012

MONTREAL, Sept. 13, 2012 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) announced today that Rajiv De Silva, Valeant's President and Chief Operating Officer of Specialty Pharmaceuticals, will be leaving the Company to pursue other interests. Mr. De Silva will remain with the Company through the remainder of the year, when the integration planning efforts related to its announced acquisition of Medicis Pharmaceutical Corporation (NYSE: MRX) are expected to have been completed.  Mr. De Silva will be a core member of the team leading these integration planning efforts. In addition, we expect that a number of Medicis executives would accept positions with Valeant after the acquisition has been completed.

"The Board of Directors and I appreciate the significant contributions Rajiv has made these past few years since joining me on this journey to create a new pharmaceutical operating model," said J. Michael Pearson, chairman and chief executive officer.  "Under Rajiv's leadership, we have become a leader in the U.S. dermatology space and transformed our operations in Canada and Australia. And although his leadership will be missed, the company has created and developed a strong management team with Rajiv's assistance that I am confident will lead us successfully through this transition period and into the future."

"The last four years at Valeant has been an extraordinary experience," said Rajiv De Silva.  "It has been a privilege to work with Mike, other members of the management team, and the Board on this journey."

About Valeant Pharmaceuticals International, Inc.

Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range
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SOURCE Valeant Pharmaceuticals International, Inc.
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