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Valeant Pharmaceuticals International, Inc. Announces Receipt of Approval From the Antimonopoly Committee of Ukraine for its Previously Announced Acquisition of Obagi Medical Products, Inc.
Date:4/24/2013

LAVAL, Quebec, April 24, 2013 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) announced that it has received approval by the Antimonopoly Committee of Ukraine (the "AMC") of its proposed acquisition of Obagi Medical Products, Inc. (NASDAQ: OMPI) ("Obagi") pursuant to a tender offer and subsequent merger. The receipt of the AMC's approval of the acquisition satisfies one of the conditions to consummate the tender offer.  As previously announced, the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired.  The consummation of the tender offer remains subject to other customary conditions, all of which the parties expect to be satisfied.

The tender offer for all of the outstanding shares of common stock of Obagi at a price of $24.00 per share, net to the seller in cash, without interest (less any required withholding taxes) expires at 12:00 midnight, New York City time, on Thursday, April 25, 2013 (which is one minute after 11:59 p.m. New York City time on Wednesday, April 24, 2013).  Valeant does not expect to further extend the offer and expects to complete the acquisition of Obagi on April 25, 2013 or shortly thereafter.

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

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SOURCE Valeant Pharmaceuticals International, Inc.
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