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  In response to the news, Valeant has withdrawn its consent solicitation.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and we are pleased that Teva has paid what we believe is a very full value for the company and as a result, have withdrawn our consent solicitation," stated J. Michael Pearson, chairman and chief executive officer.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:6/23/2016)... Pa. , June 23, 2016 Bracket ... will launch its next generation clinical outcomes platform, Bracket eCOA ... Meeting held on June 26 – 30, 2016 in ... the first electronic Clinical Outcome Assessment product of its kind ... Booth #715. Bracket eCOA 6.0 is a flexible ...
(Date:6/23/2016)... and INDIANAPOLIS , June ... receiving a Lilly Diabetes Tomorrow,s Leaders Scholarship is any ... scholarship winners, announced today online at www.diabetesscholars.org ... type 1 diabetes stand in the way of academic ... supported the Foundation,s scholarship program since 2012, and continues ...
(Date:6/23/2016)... , June 23, 2016 Revolutionary ... Oticon , industry leaders in advanced audiology ... of Oticon Opn ™, the world,s first internet ... possibilities for IoT devices.      (Photo: ... introduces a number of ,world firsts,: , ...
Breaking Medicine Technology:
(Date:6/24/2016)... ... June 24, 2016 , ... ... Scientific Sessions in Dallas that it will receive two significant new grants to ... came as PHA marked its 25th anniversary by recognizing patients, medical professionals and ...
(Date:6/24/2016)... San Diego, CA (PRWEB) , ... June 24, 2016 , ... ... up with the American Cancer Society and the Road To Recovery® program to drive ... care to seniors and other adults to ensure the highest quality of life and ...
(Date:6/24/2016)... ... June 24, 2016 , ... EB ... Decision Making in Emergency Medicine conference in Ponte Vedra Beach, FL. The awards ... in Emergency Medicine Practice and Pediatric Emergency Medicine Practice. , “With ...
(Date:6/24/2016)... ... June 24, 2016 , ... Strategic Capital Partners, ... economy by obtaining investment capital for emerging technology companies. SCP has delivered ... already resulted in more than a million dollars of capital investment for five ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... pluripotent stem (iPS) cells and other difficult to transfect cells, announces its launch ... PluriQ™ G9™ Gene Editing System is a complete system for culturing ...
Breaking Medicine News(10 mins):