LAVAL, Quebec, May 3, 2016 /PRNewswire/ -- Valeant
Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) today
announced that Joseph C. Papa has
assumed the role of Chairman and Chief Executive Officer. As
previously announced, Joseph C. Papa
succeeds J. Michael Pearson.
"I am thrilled to begin working closely with the talented
employees across Valeant as we begin an important new chapter,"
said Mr. Papa. "We have a lot of work to do, but I am
confident we will succeed in better serving our customers and
realizing the exceptional potential of the Company."
On April 25, 2016, the Company
announced that Mr. Papa would become Chairman and Chief Executive
Officer. Mr. Papa, 60, has more than 35 years of experience in the
pharmaceutical, healthcare services and specialty pharmaceutical
industries, including 20 years of branded prescription drug
experience. Mr. Papa joins Valeant from Perrigo Company plc,
where he served as CEO since 2006 and was appointed as Chairman of
the Board of Directors in 2007.
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 disorder,
eye health, neurology and branded generics. More information about
Valeant can be found at www.valeant.com.
Forward-looking Statements
This press release contains forward-looking
statements. Forward-looking statements 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 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 may include, but are not limited to,
our ability to manage transition to our new chief executive
officer; the potential for operational disruptions due to, among
other things, concerns of management, employees, current and
potential customers, other third parties with whom we do business
and shareholders; and the success of any changes to our business
strategy that may be implemented under our new chief executive
officer. 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.
Contact Information:
Laurie W. Little
949-461-6002
laurie.little@valeant.com
Elif McDonald
905-695-7607
elif.mcdonald@valeant.com
Media:
Renée Soto
or
Chris Kittredge/Jared Levy
Sard Verbinnen & Co.
212-687-8080
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SOURCE Valeant Pharmaceuticals International, Inc.