Valeant Pharmaceuticals Annonces New $1.5 Billion Securites Repurchase Program

Valeant Pharmaceuticals Annonces New $1.5 Billion Securites Repurchase Program 
MONTREAL, Nov. 19, 2012 /CNW/ - Valeant Pharmaceuticals International, Inc. 
(NYSE: VRX and TSX: VRX) announced today that its board of directors has 
authorized a new securities repurchase program (the "Securities Repurchase 
Program"). Under the Securities Repurchase Program, which commenced November 
15, 2012, the Company may make purchases of up to $1.5 billion of its senior 
notes, common shares and/or other debt or shares that may be issued prior to 
the completion of the program. The Securities Repurchase Program will replace 
the Company's former securities repurchase program, which expired on November 
7, 2012. 
Valeant's Board of Directors also approved a sub-limit for the repurchase of 
Valeant common shares of the greater of 10% of the Company's public float or 
5% of the Company's issued and outstanding common shares, in each case 
calculated as of the date of the commencement of the Securities Repurchase 
Program. On the date of the commencement of the Securities Repurchase Program, 
the Company had approximately 303,442,994 common shares outstanding. Valeant 
intends to initially make purchases of up to 15,172,149 common shares on the 
open market through the facilities of the New York Stock Exchange (NYSE), 
representing approximately 5% of the Company's issued and outstanding common 
shares. Subject to completion of appropriate filings with and approval by the 
Toronto Stock Exchange (TSX), the Company may also make purchases of its 
common shares over the facilities of the TSX. Such purchases of common shares 
will be made at prevailing market prices of such shares on the NYSE or the 
TSX, as the case may be, at the time of the acquisition and shall be made in 
accordance with the respective rules and guidelines of the NYSE and the TSX. 
All common shares purchased under the Securities Repurchase Program will be 
cancelled. 
The amount of securities to be purchased and the timing of purchases under the 
Securities Repurchase Program may be subject to various factors, which may 
include the price of the securities, general market conditions, corporate and 
regulatory requirements, alternate investment opportunities and restrictions 
under the Company's financing agreements. The securities to be repurchased 
will be funded using Valeant's cash resources. The Securities Repurchase 
Program will terminate on November 14, 2013 or at such time as Valeant 
completes its purchases. The program does not require Valeant to repurchase a 
minimum number of securities, and the Securities Repurchase Program may be 
modified, suspended or terminated at any time without prior notice. Valeant's 
Board of Directors believes that the proposed purchases are in the best 
interests of the Company and are a desirable use of corporate funds. 
On November 8, 2011, Valeant commenced its former securities repurchase 
program, which terminated on November 7, 2012. Under that securities 
repurchase program, the Company purchased 6,792,311 of its common shares for 
aggregate consideration of $345.8 million, a total of $2.4 million principal 
amount of its 5.375% Convertible Notes for aggregate consideration of $7.9 
million, a total of $34.5 million principal amount of its 6.50% Senior Notes 
due 2016 for aggregate consideration of $34.3 million, a total of $45.4 
million principal amount of its 6.875% Senior Notes due 2018 for aggregate 
consideration of $45.0 million and a total of $10.0 million principal amount 
of its 7.00% Senior Notes due 2020 for aggregate consideration of $9.5 million. 
About Valeant 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 
can be found at www.valeant.com. 
Forward-looking Statements This press release may contain forward-looking 
statements, including, but not limited to, the Company's intention to 
repurchase its debt and equity securities.  Forward-looking statements may 
generally be identified by the use of the words "anticipates," "expects," 
"intends," "plans," "should," "could," "would," "may," "will," "believes," 
"estimates," "potential," "target", 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, market factors affecting the price and liquidity of debt and 
equity securities, the satisfaction by Valeant of applicable laws to allow it 
to repurchase its securities, the availability of capital including the amount 
of cash generated from Valeant's business, the existence of alternative uses 
for Valeant's cash and the risk factors as detailed from time to time in 
Valeant's reports filed with the Securities and Exchange Commission and the 
Canadian Securities Administrators. 
The Company cautions that the foregoing list of important factors that may 
affect future results is not exhaustive. When relying on Valeant's 
forward-looking statements to make decisions with respect to the Company, 
investors and others should carefully consider the foregoing factors and other 
uncertainties and potential events. Valeant undertakes no obligation to update 
or revise any forward-looking statement, except as required by law. 
(Logo:  http://photos.prnewswire.com/prnh/20101025/LA87217LOGO) 
Contact Information:  Laurie W. Little  949-461-6002  laurie.little@valeant.com 
http://www.valeant.com 
http://photos.prnewswire.com/prnh/20101025/LA87217LOGO 
PRN Photo Desk, photodesk@prnewswire.com 
SOURCE: Valeant Pharmaceuticals International, Inc. 
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CO: Valeant Pharmaceuticals International, Inc.
ST: Quebec
NI: HEA MTC BTC  
-0- Nov/19/2012 13:02 GMT
 
 
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