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

questioning of Bausch + Lomb's performance demonstrate their fundamental lack of knowledge about Valeant's business.  Valeant has owned Bausch + Lomb for 11 months and the business has performed extremely well, delivering total organic growth of 11% since the acquisition, with over 90% of that growth attributable to volume.  With our continued success with Bausch + Lomb, we believe that the Bausch + Lomb transaction is a perfect blueprint for our proposed merger with Allergan.

"Finally, we do not believe that it is productive for either company to conduct due diligence in a public forum and although we have consistently offered Allergan the opportunity to conduct due diligence on our business, its management and board have refused, and have instead chosen to make misrepresentations and false statements about our business," continued Pearson.  "Their ongoing tactics reinforce how imperative it is that Allergan stockholders call a special meeting to amend the company's unduly onerous and non-stockholder friendly by-laws, remove six directors, and propose the appointment of new directors, who will thoroughly evaluate Valeant's offer, which represents a strategically compelling and enormously value-creating opportunity for Allergan stockholders at a 50%+ premium to Allergan's unaffected share price."

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 of pharmaceutical products primarily in the areas of dermatology, eye health, neurology  and branded generics. More information about Valeant can be found at www.valeant.com.

Forward-looking Statements This communication may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws.  These forward-lo
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SOURCE Valeant Pharmaceuticals International, Inc.
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