Navigation Links
Valeant Pharmaceuticals Congratulates Teva and Cephalon on Their Transaction
Date:5/2/2011

MISSISSAUGA, Ontario, May 2, 2011 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) today congratulated Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) and Cephalon, Inc. (NASADQ: CEPH) on their announcement that Cephalon has agreed to be acquired by Teva.  In response to the news, Valeant has withdrawn its consent solicitation.

"We believe that this announcement is positive news for Cephalon stockholders and we are pleased that Teva has paid what we believe is a very full value for the company and as a result, have withdrawn our consent solicitation," stated J. Michael Pearson, chairman and chief executive officer.  "As Cephalon stockholders ourselves with over a million shares owned, we will benefit from this transaction without participating further in the process.  We will remain disciplined on our M&A strategy and will look to deploy our freed-up capital on other opportunities to create value for our shareholders."

About Valeant

Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) 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 can be found at www.valeant.com.

Forward-looking Statements

This press release may contain forward-looking statements, including, but not limited to, statements regarding Valeant's expectation to benefit from the proposed acquisition of Cephalon by Teva and opportunities to create value for Valeant shareholders. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in the company's most recent annual or quarterly report filed with the Securities and Exchange Commission ("SEC") and risks and uncertainties relating to the proposed merger, as detailed from time to time in Valeant's filings with the SEC and the Canadian Securities Administrators ("CSA"), which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Valeant undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.

Contact Information:
Investors:
Laurie W. Little    
Valeant Pharmaceuticals International, Inc.  
949-461-6002    
laurie.little@valeant.com      

Media:
Renee E. Soto
Sard Verbinnen & Co.
212-687-8080
rsoto@sardverb.com

Cassandra Bujarski
Sard Verbinnen & Co.

212-687-8080
cbujarski@sardverb.com

(Logo:  http://photos.prnewswire.com/prnh/20101025/LA87217LOGO)


'/>"/>
SOURCE Valeant Pharmaceuticals International, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Valeant Pharmaceuticals to Announce 2011 First Quarter Results on May 9, 2011
2. Valeant Pharmaceuticals Responds to Cephalon Boards Letter
3. Valeant Pharmaceuticals Announces Redemption of 4.0% Convertible Subordinated Notes Due 2013
4. Regulatory Update - GSK and Valeant Respond to FDA on ezogabine
5. Valeant Pharmaceuticals Adds Corporate Governance Expert Abe Friedman to its Slate of Proposed Cephalon Directors
6. Valeant Pharmaceuticals Files Presentation for Cephalon Stockholders
7. Valeant Pharmaceuticals Files Preliminary Consent Solicitation Statement With the SEC
8. Promius Pharma and Valeant Form Collaboration to Market Cloderm® Cream in the United States
9. Valeant Pharmaceuticals Proposes to Acquire Cephalon, Inc. for $73 Per Share in Cash
10. GSK and Valeant Receive European Authorisation for Trobalt (retigabine)
11. Valeant Pharmaceuticals Extends Contract with J. Michael Pearson as CEO and Appoints Him as Chairman of the Board
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/22/2017)... Fla. , May 22, 2017  As ... as a whole continue to make the revolutionary ... becomes increasingly important for ensuring positive patient outcomes ... industry stakeholders are shifting focus away from clinical ... and effects of long-term specialty drug therapy utilization ...
(Date:5/15/2017)... 15, 2017 Enterin Inc., a privately-held CNS pharmaceutical ... novel compounds to treat Parkinson,s disease (PD), has enrolled the ... Phase 1/2a randomized, controlled, multicenter study involving patients with PD ... 50 patients over a 9-to-12-month period. The first stage is ... with PD. Participating sites include Denver , ...
(Date:5/10/2017)... Global Health Intelligence (GHI), the leading healthcare data analytics ... 2017 ranking of the Best-Equipped Hospitals in Latin America ... GHI,s hospitals database for Latin America , which is ... database covers 86% of the hospitals in Latin ... each institution in key areas such as beds, medical specialties, ...
Breaking Medicine Technology:
(Date:5/26/2017)... MA (PRWEB) , ... May 26, 2017 , ... On ... Act (AHCA), which narrowly passed the U.S. House on May 4, would result in ... be expected under continued implementation of the 2010 Patient Protection and Affordable Care Act ...
(Date:5/26/2017)... Illinois (PRWEB) , ... May 26, 2017 , ... Silver ... The community, which is located on more than four acres of land at 5620 ... independence. , The 103,000 square-foot building includes 125 studio and one-bedroom apartments. Each ...
(Date:5/26/2017)... ... May 26, 2017 , ... “When the Stars Lead Home”: a poignant ... of published author Laura Weigel Douglas, an avid reader who lives in the Pacific ... sometimes feels like Green Hills Adventure Camp. She couldn’t be more grateful. , Twelve-year ...
(Date:5/26/2017)... ... ... Happened in the Garden of Eden”: retells the stories of three Bible figures in modern ... author, Penelope Colt, mother, trader, horse farmer, artist and a former GM journeyman. Born ... At six, they moved to Dayton, Ohio, where Penny graduated high school. At sixteen, ...
(Date:5/24/2017)... , ... May 24, 2017 , ... ... Medical Center CEO Mary Ellen, hospital employees, and town officials to celebrate the ... The facility was developed by Rendina as part of its ongoing relationship with ...
Breaking Medicine News(10 mins):