Valeant Pharmaceuticals Submits HSR Filing Relating To Proposed Acquisition Of Allergan

Valeant Pharmaceuticals Submits HSR Filing Relating To Proposed Acquisition Of
                                   Allergan

PR Newswire

LAVAL, Quebec, July 14, 2014

LAVAL, Quebec, July 14, 2014 /PRNewswire/ -- Valeant Pharmaceuticals
International, Inc. (NYSE: VRX and TSX: VRX) today announced it has filed a
premerger notification under the Hart-Scott-Rodino Antitrust Improvements Act
of 1976 (HSR) with the U.S. Federal Trade Commission (FTC) relating to the
proposed acquisition of Allergan, Inc. (NYSE: AGN).

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,
eye health, neurology and branded generics. More information about Valeant
Pharmaceuticals International, Inc. can be found at www.valeant.com.

Forward-looking Statements

This communication may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995 and Canadian
securities laws. These forward-looking statements include, but are not
limited to, statements regarding Valeant's offer to acquire Allergan, its
financing of the proposed transaction, its expected future performance
(including expected results of operations and financial guidance), and the
combined company's future financial condition, operating results, strategy and
plans. Forward-looking statements may be identified by the use of the words
"anticipates," "expects," "intends," "plans," "should," "could," "would,"
"may," "will," "believes," "estimates," "potential," "target," "opportunity,"
"tentative," "positioning," "designed," "create," "predict," "project,"
"seek," "ongoing," "upside," "increases" or "continue" and variations or
similar expressions. These statements are based upon the current expectations
and beliefs of management and are subject to numerous assumptions, risks and
uncertainties that change over time and could cause actual results to differ
materially from those described in the forward-looking statements. These
assumptions, risks and uncertainties include, but are not limited to,
assumptions, risks and uncertainties discussed in the company's most recent
annual or quarterly report filed with the SEC and the Canadian Securities
Administrators (the "CSA") and assumptions, risks and uncertainties relating
to the proposed merger, as detailed from time to time in Valeant's filings
with the SEC and the CSA, which factors are incorporated herein by reference.
Important factors that could cause actual results to differ materially from
the forward-looking statements we make in this communication are set forth in
other reports or documents that we file from time to time with the SEC and the
CSA, and include, but are not limited to:

  othe ultimate outcome of the offer and the second-step merger, including
    the ultimate removal or the failure to render inapplicable the obstacles
    to consummation of the offer and the second-step merger described in the
    offer to exchange;
  othe ultimate outcome and results of integrating the operations of Valeant
    and Allergan, the ultimate outcome of Valeant's pricing and operating
    strategy applied to Allergan and the ultimate ability to realize
    synergies;
  othe effects of the proposed combination of Valeant and Allergan, including
    the combined company's future financial condition, operating results,
    strategy and plans;
  othe effects of governmental regulation on our business or potential
    business combination transactions;
  othe ability to obtain regulatory approvals and meet other conditions to
    the offer, including the necessary stockholder approval, on a timely
    basis;
  oValeant's ability to sustain and grow revenues and cash flow from
    operations in our markets and to maintain and grow our customer base, the
    need for innovation and the related capital expenditures and the
    unpredictable economic conditions in the United States and other markets;
  othe impact of competition from other market participants;
  othe development and commercialization of new products;
  othe availability and access, in general, of funds to meet our debt
    obligations prior to or when they become due and to fund our operations
    and necessary capital expenditures, either through (i) cash on hand, (ii)
    free cash flow, or (iii) access to the capital or credit markets;
  oour ability to comply with all covenants in our indentures and credit
    facilities, any violation of which, if not cured in a timely manner, could
    trigger a default of our other obligations under cross-default provisions;
    and
  othe risks and uncertainties detailed by Allergan with respect to its
    business as described in its reports and documents filed with the SEC.

All forward-looking statements attributable to us or any person acting on our
behalf are expressly qualified in their entirety by this cautionary
statement. Readers are cautioned not to place undue reliance on any of these
forward-looking statements. These forward-looking statements speak only as of
the date hereof. Valeant undertakes no obligation to update any of these
forward-looking statements to reflect events or circumstances after the date
of this communication or to reflect actual outcomes.

ADDITIONAL INFORMATION

This communication does not constitute an offer to buy or solicitation of an
offer to sell any securities. This communication relates to the exchange offer
which Valeant has made to Allergan stockholders. The exchange offer is being
made pursuant to a tender offer statement on Schedule TO (including the offer
to exchange, the letter of election and transmittal and other related offer
materials) and a registration statement on Form S-4 filed by Valeant with the
SEC on June 18, 2014. These materials, as they may be amended from time to
time, contain important information, including the terms and conditions of the
offer. In addition, Valeant has filed a preliminary proxy statement with the
SEC on June 24, 2014, Pershing Square Capital Management, L.P. ("Pershing
Square") has filed a definitive solicitation statement with the SEC on July
11, 2014, and Valeant and Pershing Square (and, if a negotiated transaction is
agreed, Allergan) may file one or more additional proxy statements or other
documents with the SEC. This communication is not a substitute for any proxy
statement, registration statement, prospectus or other document Valeant,
Pershing Square and/or Allergan have filed or may file with the SEC in
connection with the proposed transaction.INVESTORS AND SECURITY HOLDERS OF
VALEANT AND ALLERGAN ARE URGED TO READ THE TENDER OFFER STATEMENT,
REGISTRATION STATEMENT, AND ANY OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY
IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN
IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Any definitive proxy
statement(s) (if and when available) will be mailed to stockholders of
Allergan and/or Valeant, as applicable. Investors and security holders may
obtain free copies of the tender offer statement, the registration statement
and other documents (if and when available) filed with the SEC by Valeant
and/or Pershing Square through the web site maintained by the SEC at
http://www.sec.gov.

Information regarding the names and interests in Allergan and Valeant of
Valeant and persons related to Valeant who may be deemed participants in any
solicitation of Allergan or Valeant shareholders in respect of a Valeant
proposal for a business combination with Allergan is available in the
additional definitive proxy soliciting materials in respect of Allergan filed
with the SEC by Valeant on April 21, 2014 and May 28, 2014. Information
regarding the names and interests in Allergan and Valeant of Pershing Square
and persons related to Pershing Square who may be deemed participants in any
solicitation of Allergan or Valeant shareholders in respect of a Valeant
proposal for a business combination with Allergan is available in additional
definitive proxy soliciting material in respect of Allergan filed with the SEC
by Pershing Square. The additional definitive proxy soliciting material
referred to in this paragraph can be obtained free of charge from the sources
indicated above.

Contact Information:

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



Valeant Pharmaceuticals International, Inc.

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



SOURCE Valeant Pharmaceuticals International, Inc.

Website: http://www.valeant.com
 
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