Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,424.85 162.29 1.00%
S&P 500 1,862.31 19.33 1.05%
NASDAQ 4,086.22 52.06 1.29%
Ticker Volume Price Price Delta
STOXX 50 3,125.90 -13.36 -0.43%
FTSE 100 6,581.82 -2.35 -0.04%
DAX 9,299.50 -18.32 -0.20%
Ticker Volume Price Price Delta
NIKKEI 14,417.53 -0.15 -0.00%
TOPIX 1,166.59 0.04 0.00%
HANG SENG 22,760.24 64.23 0.28%

Valeant Pharmaceuticals Receives FTC Clearance For Medicis Acquisition


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 conditions.

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.

Forward-Looking Statements

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 Administrators ("CSA").

Contact Information: Laurie W. Little 949-461-6002 laurie.little@valeant.com

(Logo: http://photos.prnewswire.com/prnh/20101025/LA87217LOGO)

http://www.valeant.com

http://photos.prnewswire.com/prnh/20101025/LA87217LOGO

PRN Photo Desk, photodesk@prnewswire.com

SOURCE: Valeant Pharmaceuticals International, Inc.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/November2012/16/c8847.html

CO: Valeant Pharmaceuticals International, Inc. ST: Quebec NI: HEA MTC MNA

-0- Nov/16/2012 12:52 GMT

Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement