Valeant Pharmaceuticals Provides Update to Recent Event

           Valeant Pharmaceuticals Provides Update to Recent Event

PR Newswire

MONTREAL, April 4, 2013

MONTREAL, April 4, 2013 /PRNewswire/ -- Valeant Pharmaceuticals International,
Inc. (NYSE: VRX and TSX: VRX) today responded to a generic approval for
Zovirax® ointment.

"Yesterday, Mylan announced they had received approval of a generic Zovirax®
ointment," stated J. Michael Pearson. "While the timing of a generic approval
was always uncertain, this was not unforeseen and we were prepared for its
eventuality. In response to the new generic approval, we will be launching an
authorized generic of Zovirax® ointment today. Valeant's business model is
based on diversification which allows us to better balance sudden events such
as this.

"As we did not include this event in our original budget expectations, we
expect this isolated event could impact our Cash EPS by $0.30 to $0.40 in
2013," continued Pearson. "But there are other actions, such as several
product acquisitions, the repricing of our term loan debt and continued
operational performance that have occurred since we provided financial
guidance in January, and we believe that these activities will mitigate the
impact of the genericization of Zovirax® ointment. We continue to expect once
again to deliver outstanding performance in 2013 and we will provide an update
to our 2013 guidance on our first quarter financial results conference call in
May."

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.

Forward Looking Statements

This press release contains forward-looking statements regarding, among other
things, the ability of our business model to deal with unexpected events, the
launch of our authorized generic of Zovirax ointment, the financial impact of
the genericization of Zovirax ointment, and our 2013 performance. Statements
including words such as "believes," "expects," "anticipates," "intends,"
"estimates," "plan," "will," "may," "intend," "guidance" or similar
expressions are forward-looking statements. Because these statements reflect
Valeant's current views, expectations and beliefs concerning future events,
these forward-looking statements involve risks and uncertainties. Investors
should note that many factors could cause actual results to differ materially
from those expressed in forward-looking statements contained in this press
release. These factors include, but are not limited to the market acceptance
of our authorized generic Zovirax ointment, the impact of the genericization
of Zovirax ointment and other risks and uncertainties, including those
detailed from time to time in Valeant's periodic reports filed with the
Securities and Exchange Commission ("SEC") and the Canadian Securities
Administrators ("CSA"), including current reports on Form 8-K, quarterly
reports on Form 10-Q and annual report on Form 10-K, particularly the
discussion under the caption "RISK FACTORS" in Valeant's annual reports on
Form 10-K for the year ended December 31, 2012, which have been filed with the
SEC and the CSA. The forward-looking statements in this press release are
qualified by these risk factors. These are factors that, individually or in
the aggregate, could cause Valeant's actual results to differ materially from
expected and historical results. Valeant assumes no obligation to publicly
update any forward-looking statements, whether as a result of new information,
future developments or otherwise.

Contact Information:

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

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SOURCE Valeant Pharmaceuticals International, Inc.

Website: http://www.valeant.com