Navigation Links
Valeant Pharmaceuticals Announces Redemption and Defeasance of 7.625% Senior Notes Due 2020 and 8.375% Senior Notes Due 2016
Date:9/27/2010

ALISO VIEJO, Calif., Sept. 27 /PRNewswire-FirstCall/ -- Valeant Pharmaceuticals International (NYSE: VRX) today announced that it will redeem all of its outstanding 7.625% Senior Notes due 2020 (the "7.625% Notes") and all of its outstanding 8.375% Senior Notes due 2016 (together with the 7.625% Notes, the "Notes") on October 27, 2010.  The notice of redemption was distributed to holders of the Notes on September 27, 2010.

On and after October 27, 2010, the Notes will no longer be deemed outstanding, interest will cease to accrue thereon, and all rights of the holders will cease, except for the right to receive the redemption price, without interest thereon.

Valeant Pharmaceuticals International (NYSE: VRX) today further announced that it has deposited funds in the amount of $955,459,201.38 with The Bank of New York Mellon Trust Company, N.A., as Trustee under the respective Indentures for the Notes, to effect a legal defeasance of the Notes.  The legal defeasance was commenced in conjunction with the redemption of the Notes.

About ValeantValeant Pharmaceuticals International is a multinational specialty pharmaceutical company that develops and markets a broad range of pharmaceutical products primarily in the areas of neurology and dermatology. More information about Valeant 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 relate to, among other things, the expected benefits of the proposed merger such as efficiencies, cost savings, tax benefits, enhanced revenues and cash flow, growth potential, market profile and financial strength; the competitive ability and position of the combined company; the expected timing of the completion of the transaction; and the expected payment of a one-time cash dividend and the tax consequences thereof. Forward-looking statements can generally be identified by the use of words such as "believe", "anticipate", "expect", "estimate", "intend", "continue", "plan", "project", "will", "may", "should", "could", "would", "target", "potential" and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Although certain of these statements set out herein are indicated above, all of the statements in this document that contain forward-looking statements are qualified by these cautionary statements. Although Valeant and Biovail believe that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, including, but not limited to, factors and assumptions regarding the items outlined above. Actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from these expectations include, among other things, the following: the risk that a condition to closing of the merger may not be satisfied; the possibility that the anticipated benefits and synergies from the proposed merger cannot be fully realized or may take longer to realize than expected; the possibility that costs or difficulties related to the integration of Valeant and Biovail operations will be greater than expected; the ability of the combined company to retain and hire key personnel and maintain relationships with customers, suppliers or other business partners; the impact of legislative, regulatory, competitive and technological changes; the risk that the credit ratings of the combined company may be different from what the companies expect; and other risk factors relating to the pharmaceutical industry, as detailed from time to time in each of Valeant's and Biovail's reports filed with the Securities and Exchange Commission ("SEC") and, in Biovail's case, the Canadian Securities Administrators ("CSA"). There can be no assurance that the proposed merger will in fact be consummated.

Additional information about these factors and about the material factors or assumptions underlying such forward-looking statements may be found in the body of this document, as well as under Item 1.A. in each of Valeant's and Biovail's Annual Report on Form 10-K for the fiscal year ended December 31, 2009, and Item 1.A in each of Valeant's and Biovail's most recent Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2010. Valeant and Biovail caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on forward-looking statements to make decisions with respect to Valeant and Biovail, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Neither Biovail nor Valeant undertakes any obligation to update or revise any forward-looking statement, except as may be required by law.Contact:Laurie W. Little Valeant Pharmaceuticals949-461-6002laurie.little@valeant.com(Logo:  http://photo.prnewswire.com/prnh/20081125/VALEANTLOGO)

(Logo:  http://www.newscom.com/cgi-bin/prnh/20081125/VALEANTLOGO)


'/>"/>

SOURCE Valeant Pharmaceuticals International
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Valeant to Acquire Polish Products
2. GSK and Valeant Announce New U.S. FDA PDUFA Goal Date for Ezogabine
3. Valeant and Biovail Announce Results of Special Meetings of Shareholders
4. Auxilium Pharmaceuticals, Inc. Receives Clearance to Resume Clinical Trials for XIAFLEX(TM)
5. Vion Pharmaceuticals Completes Accrual of 85 Patients to its Pivotal Phase II Trial of Cloretazine(R) (VNP40101M) in Elderly AML
6. Solvay Pharmaceuticals, Inc. and Wyeth Pharmaceuticals Announce Receipt of an FDA Action Letter for Bifeprunox, an Investigational Treatment for Schizophrenia
7. Callisto Pharmaceuticals Opens Additional Sites for Phase II Clinical Trial of Atiprimod in Advanced Carcinoid Cancer Patients
8. WallSt.net (www.wallst.net) Updates the Investment Community Through an All-New Interview With RegeneRx Biopharmaceuticals CEO
9. Quark Pharmaceuticals, Inc. Presented Positive Preclinical Results of Systemic RNAi Compound for Acute Renal Failure (ARF)
10. Peregrine Pharmaceuticals Doses First Patient in Cotara(R) Phase II Brain Cancer Trial In India
11. Nabi Biopharmaceuticals Announces Second Quarter 2007 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/9/2016)... 9, 2016 Research and Markets has announced ... report to their offering. ... The global travel vaccines market to grow at a ... covers the present scenario and the growth prospects of the global ... report considers the revenue generated from the sales of various vaccines ...
(Date:12/8/2016)... , Dec. 8, 2016 Australia Ophthalmic Lasers ... report, "Australia Ophthalmic Lasers Market Outlook to 2022", provides ... The report provides value, in millions of US dollars, ... segements - Excimer Lasers, Femtosecond Lasers and YAG Lasers. ... shares data for each of these market segements, and ...
(Date:12/8/2016)... KEY FINDINGS The global medical ... Various reasons for growth of the medical lifting sling ... chronic diseases, high recovery cost of injuries and government ... lifting sling refers to an assistive device that helps ... connect to the lift and hold the patient. It ...
Breaking Medicine Technology:
(Date:12/8/2016)... ... 08, 2016 , ... Russ DiGilio , founder and ... #QuackGivesBack campaign which supported local breast cancer organizations during National Breast Cancer Awareness ... Back initiative, and we’re very pleased with the participation in every franchisee’s ...
(Date:12/8/2016)... , ... December 08, 2016 , ... CURE Media Group, ... and advocacy groups, has aligned with Upstage Lung Cancer in efforts to combat lung ... announcement, Michael J. Hennessy, Jr said, “CURE Media Group is honored to team up ...
(Date:12/8/2016)... Fla (PRWEB) , ... December 08, 2016 , ... ... smarter modes of access for customers and employees that are both engaging and ... 7 with Service Smart Technology, the software company revealed today its plans to ...
(Date:12/8/2016)... ... 08, 2016 , ... STAT courier is pleased to announce that due to ... they are expanding their presence in Dallas. One of the most exciting parts for ... jobs to the Dallas and Forth Worth market. STAT takes pride in treating their ...
(Date:12/8/2016)... ... December 08, 2016 , ... Vida Health, the ... Series B led by Canvas Ventures . Other investors include Nokia Growth Partners ... mobile platform to serve more consumers who are managing chronic conditions or ...
Breaking Medicine News(10 mins):