Navigation Links
Valeant Pharmaceuticals Files a Notice of Intention to Make a Normal Course Issuer Bid
Date:8/23/2011

MISSISSAUGA, Ontario, Aug. 23, 2011 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (the "Company" or "Valeant") announced today that it has filed a Notice of Intention to make a normal course issuer bid with The Toronto Stock Exchange (the "TSX") and that the TSX has accepted the Notice of Intention. Under the bid, the Company will have the right to purchase for cancellation, commencing August 25, 2011, 1,000,000 of its Common Shares (representing approximately 0.33% of Valeant's Common Shares issued and outstanding as of the date hereof) through the facilities of the TSX, or such other means as may be permitted by the TSX. The Company may, at certain times, purchase its Common Shares if it believes that the market price of its Common Shares is attractive and that the purchase would be in the best interest of the Company and an appropriate use of corporate funds in light of potential benefits to remaining shareholders. The Company currently has approximately 299,587,764 Common Shares outstanding, and its average trading volume on the TSX for the six months prior to the date hereof is 462,572. For purposes of the TSX rules, a maximum of 115,643 common shares may be purchased by the Company on any one day under the bid, except where purchases are made in accordance with the "block purchase exception" of the TSX rules.

The normal course issuer bid is part of the Company's previously announced Securities Repurchase Program, pursuant to which the Company's Board of Directors has approved the purchase of up to 16 million Common Shares (representing approximately 10% of the Company's public float at the date of the announcement of the Securities Repurchase Program), 15 million of which have been approved for repurchase through the facilities of the NYSE (representing approximately 5% of Valeant's issued and outstanding common shares as of the date of the announcement of the Securities Repurchase Program). The Company currently intends to purchase the remaining one million common shares through the facilities of the TSX under this normal course issuer bid. The Securities Repurchase Program will terminate on November 7, 2011 or at such time as Valeant completes its purchases. The normal course issuer bid will remain in effect until the earliest of November 7, 2011, the termination of the bid by the Company, or until the Company has purchased the maximum number of shares permitted under the bid. To date, the Company has purchased 14,969,599 Common Shares through the facilities of the New York Stock Exchange at a volume weighted average purchase price of U.S.$39.46 per share.

Valuation analyses of the Company were prepared by the Company's financial advisors in connection with the preparation of such advisor's fairness opinions provided in connection with the merger between Biovail Corporation (now Valeant) and Valeant Pharmaceuticals International (now a wholly-owned subsidiary of Valeant) in September 2010. Descriptions and summaries of such valuation analyses, and the corresponding fairness opinions, are contained in the Company's Amendment No. 1 to the Registration Statement on Form S-4 filed on August 18, 2010, copies of which are available on SEDAR at www.sedar.com and on the U.S. Securities and Exchange Commission (the "SEC") website at www.sec.gov.

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 neurology, dermatology and branded generics. More information about Valeant Pharmaceuticals International, Inc. can be found at www.valeant.com.

Caution Regarding Forward-Looking Information

To 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").

This press release may contain forward-looking statements. 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 SEC and risks and uncertainties as detailed from time to time in Valeant's filings with the SEC and the Canadian Securities Administrators, 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:
Laurie W. Little
949-461-6002
laurie.little@valeant.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 Completes Acquisition of Sanitas Group
2. Valeant Pharmaceuticals Announces Resignation of Michael Van Every From Valeants Board of Directors
3. Valeant Pharmaceuticals Reports 2011 Second Quarter Financial Results
4. Valeant Pharmaceuticals Announces Approval of Sublinox® in Canada
5. Valeant Pharmaceuticals Announces Distribution Agreement for Zuacta™ in Canada
6. Valeant Pharmaceuticals Agrees to Acquire Ortho Dermatologics
7. Sanofi Divests Dermik Dermatology Unit to Valeant Pharmaceuticals International, Inc.
8. Valeant Pharmaceuticals Agrees to Acquire Dermik
9. Valeant Pharmaceuticals Announces License Agreement With Meda for North American Rights for Elidel® and Xerese™
10. Valeant Pharmaceuticals Reports 2011 First Quarter Financial Results
11. Valeant Pharmaceuticals Congratulates Teva and Cephalon on Their Transaction
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/24/2017)... Medivir AB (Nasdaq Stockholm: MVIR) ... Board of Directors that will be submitted to the ... representatives of the company,s three largest shareholders at the ... accepted a seat on the Nomination Committee, and the ... Nomination Committee was as follows:  ...
(Date:2/23/2017)... , Feb. 23, 2017  Genesis Healthcare Services has ... announcement was made by Bill Monast , President ... and Nathan Feltman , executives with Home ... Services, LLC. This acquisition helps Hospice ... of technology enabled durable medical equipment (DME) solutions for ...
(Date:2/23/2017)... and Markets has announced the addition of the "Menopause Drugs Price ... ... Analysis and Strategies - 2016, provides drug pricing data and benchmarks in ... What are the key drugs marketed for Menopause ... market? What are the unit prices and annual treatment ...
Breaking Medicine Technology:
(Date:2/24/2017)... , ... February 24, 2017 , ... ... newly designed TaskMate Go. Core benefits and advantages built into the home office ... stylish, functional look and feel. Ability to gain the benefits embedded in the ...
(Date:2/24/2017)... ... February 24, 2017 , ... WHAT: , The ... recognition opportunities as well as advocacy for the state and region‘s technology businesses, ... 23. The Council's Innovation Forecast event highlights innovation throughout the region from ...
(Date:2/24/2017)... ... , ... The Smart Machine Age is here, and it’s disrupting everything. Not ... all jobs in the United States may be taken over by technology in the ... know-it-all who steamrolls over colleagues is drawing to a close. Success will belong to ...
(Date:2/24/2017)... ... , ... Healthcare Associates of McKinney announced today that they have ... State Highway 121, Suite 210, McKinney, Texas 75070. It is in the heart ... the practice has grown, the need for more space has been paramount. This ...
(Date:2/24/2017)... Diego, CA (PRWEB) , ... February 24, 2017 , ... ... its 2017 national conference convening academic faculty engaged in or interested in palliative care ... and Research,” will be held in North County San Diego on Sept. 28 ...
Breaking Medicine News(10 mins):