Breaking News

Tweet TWEET

Valeant Pharmaceuticals Provides Update to Recent Event

MONTREAL, April 4, 2013 /CNW/ - 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 
(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/April2013/04/c2596.html 
CO: Valeant Pharmaceuticals International, Inc.
ST: Quebec
NI: HEA MTC  
-0- Apr/04/2013 12:01 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.