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Valeant Pharmaceuticals Contacts Quebec and U.S. Regulators About Allergan's False and Misleading Statements
Date:7/21/2014

LAVAL, Quebec, July 21, 2014 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. ("Valeant") (NYSE: VRX) (TSX: VRX) has contacted both the Autorite des marches financiers ("AMF") in Quebec and the U.S. Securities and Exchange Commission  ("SEC") regarding Allergan Inc.'s (NYSE: AGN) apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business despite Valeant's public statements correcting such information.  The latest misleading statements were made last Friday when Allergan falsely asserted in an SEC filing that Bausch + Lomb's pharmaceutical sales were stagnant or declining. Contrary to Allergan's statements this past Friday, Bausch + Lomb's global prescription pharmaceutical business, which represents less than 20% of Bausch + Lomb total sales, grew approximately 6% in the second quarter of 2014, while the U.S. prescription pharmaceutical business grew 17%, as compared to the prior year, with well over 70% of that growth attributable to volume increases.  Valeant's decision to contact the authorities also reflects concerns raised by several Canadian Valeant shareholders about comments made about Valeant by Allergan's management during recent meetings with these investors in Canada.

"We can no longer tolerate unjustified attacks on Valeant's business and strongly believe we are obligated to take action to protect Valeant shareholders from Allergan's apparent attempts to mislead investors and manipulate the market for Valeant stock," said J. Michael Pearson, chairman and chief executive officer. "Allergan's continued disparagement of Valeant and repeated
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SOURCE Valeant Pharmaceuticals International, Inc.
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