MONTREAL, Nov. 28, 2012 /CNW/ - Valeant Pharmaceuticals International, Inc.
(NYSE: VRX and TSX: VRX) announced today that Ryan Weldon and Jason Hanson
will be named to Valeant's Executive Management Team. Mr. Weldon will assume
the role of Executive Vice President/Company Group Chairman where he will lead
the U.S. Dermatology operations, including prescription dermatology,
aesthetics and podiatry. Mr. Weldon will be relocating to Arizona where these
operations will be headquartered. Mr. Hanson will relocate to New Jersey
where he will assume the role of Executive Vice President/Company Group
Chairman and lead certain U.S and international businesses and functions to be
named later. In addition, Vince Ippolito will be appointed Senior Vice
President, General Manager, Aesthetics and Justin Smith will be appointed
Senior Vice President, General Manager U.S. Rx Dermatology and both will
report to Ryan Weldon in Scottsdale, AZ. Mr. Ippolito and Mr. Smith have each
held various sales and marketing leadership positions at Medicis
Pharmaceutical Corporation (NYSE: MRX). These changes will be effective upon
the close of Valeant's acquisition of Medicis, currently anticipated to occur
on December 11, 2012.
"The Board of Directors and I are pleased to add such experienced candidates
to the Valeant management team," said J. Michael Pearson, chairman and chief
executive officer. "These individuals have demonstrated exceptional operating
performance at their respective companies and business units and I believe
they are the right candidates to continue Valeant's growth and success in the
future. We expect to be able to announce more management announcements around
the time of closing."
Ryan Weldon has served as Vice President & General Manager, Aesthetics since
December 2011 and Vice President & General Manager, Neurology & Other since
January 2010. Mr. Weldon joined Valeant in 2008 after working for McKinsey &
Co. and Johnson & Johnson.
Jason Hanson has served as Executive Vice President, Chief Operating Officer
of Medicis Pharmaceutical Corporation since July 2010, and as Executive Vice
President since 2006. Mr. Hanson joined Medicis in 2006 and was appointed to
the position of Executive Vice President, General Counsel, and Corporate
Secretary. From April 2004 to July 2006, Mr. Hanson served as General Counsel
for GE Healthcare Technologies, a global business specializing in medical
imaging, information technology and other durable medical equipment and
services, where he was responsible for the global legal affairs of GE
Healthcare Technologies and a member of the company's senior management team.
Vince Ippolito has been with Medicis for ten years where he most recently
served as Executive Vice President, Sales and Marketing. During his tenure at
Medicis, he has helped launch more than ten new products, including LOPROX®
Shampoo, VANOS®, Restylane®, Perlane®, SOLODYN®, ZIANA® and DYSPORT®.
Prior to joining Medicis, Mr. Ippolito was employed by Novartis AG.
Justin Smith has been with Medicis for fifteen years where he most recently
served as Senior Vice President, Marketing for both dermatology and aesthetics
products. Most recently, Mr. Smith spearheaded Medicis' access solutions
strategy and was responsible for launching SOLODYN®. He also held senior
positions in sales management.
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.
This press release may contain forward-looking statements. These
forward-looking statements relate to, among other things, the closing of the
Medicis transaction and the future roles of certain management.
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 satisfaction of customary
closing conditions with respect to the closing of the Medicis transaction, 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
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