Valeant Pharmaceuticals Receives FTC Clearance For Medicis Acquisition
MONTREAL, Nov. 16, 2012 /CNW/ - Valeant Pharmaceuticals International, Inc.
(NYSE: VRX and TSX: VRX) announced today that the U.S. Federal Trade
Commission (FTC) has completed its review of the proposed acquisition of
Medicis Pharmaceutical Corporation (NYSE: MRX) by Valeant and has granted
early termination of the waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 (HSR) without conditions. The grant of early
termination is effective as of November 15, 2012.
The proposed merger remains subject to other customary closing conditions,
including the approval of the Medicis's stockholders at its special meeting of
stockholders scheduled for December 7, 2012. The Company expects to close the
merger within four business days following satisfaction of all closing
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.
These forward-looking statements relate to, among other things, the expected
timing of the close of the transaction. Forward-looking statements can
generally be identified by the use of words such as "believe", "anticipate",
"expect", "estimate", "intend", "continue", "plan", "project", "will", "may",
"should", "could", "would", "target", "potential" and other similar
expressions. In addition, any statements that refer to expectations,
projections or other characterizations of future events or circumstances are
forward-looking statements. Actual results may differ materially from those
expressed or implied in such statements. Important factors that could cause
actual results to differ materially from these expectations include, among
other things, the expected timing of the close of the transaction and the
satisfaction of the closing conditions to the transaction, and the risk
factors as detailed from time to time in Valeant's reports filed with the
Securities and Exchange Commission ("SEC") and the Canadian Securities
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SOURCE: Valeant Pharmaceuticals International, Inc.
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-0- Nov/16/2012 12:52 GMT
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