LAVAL, Quebec, June 19, 2017 /PRNewswire/ -- Valeant
Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX)
("Valeant") today announced that its board of directors has elected
John Paulson to serve as a director,
effective June 14, 2017. With the
addition of Mr. Paulson, Valeant has a total of 11 members on its
board, 10 of whom are independent.
"We are pleased to welcome John to Valeant's board of
directors," said Joseph C. Papa,
chairman and CEO, Valeant. "With his significant business and
financial expertise, John will be a strong addition to the board.
His experience will be especially valuable as we continue to
execute on our transformational strategy to turnaround
Valeant."
Mr. Paulson is the president of Paulson & Co., Inc., a
New York-based investment
firm.
"The strategic plan to transform Valeant smartly focuses on
rebuilding the company's core franchises in ophthalmology,
dermatology and gastroenterology while simultaneously using the
proceeds from the sale of non-core assets and operating cash flow
to de-lever the company," said Mr. Paulson. "I am fully supportive
of the strategy and leadership team at Valeant."
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,
gastrointestinal disorders, eye health, 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 which 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, risks and uncertainties discussed in the Company's most
recent annual or quarterly report and detailed from time to time in
Valeant's other filings with the Securities and Exchange Commission
and the Canadian Securities Administrators, which factors are
incorporated herein by reference. 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 press release or to reflect actual outcomes,
unless required by law.
Investor Contact:
Elif
McDonald
elif.mcdonald@valeant.com
514-856-3855
877-281-6642 (toll free)
Media Contact:
Lainie
Keller
lainie.keller@valeant.com
908-927-0617
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SOURCE Valeant Pharmaceuticals International, Inc.