MONTREAL, Dec. 5, 2012 /PRNewswire/ -- Valeant
Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX)
announced today that the company has reached agreement on terms of
a revised North American aesthetics arrangement with Galderma
S.A. Under the terms of the revised agreement, Galderma will
continue to supply Restylane® and Perlane® to Valeant, under the
terms and conditions Galderma currently supplies those products to
Medicis Pharmaceutical Corporation (NYSE: MRX). In addition,
Valeant will make an upfront payment and a royalty to Galderma on
sales of Sculptra®. Among other things, the agreement
provides for resolution of all claims asserted in Galderma's
pending litigation relating to Valeant's acquisition of
Medicis.
In addition, Valeant will obtain North American rights to
Emervel®, an innovative, next generation family of hyaluronic acid
dermal fillers that are specifically designed to provide both
patient tolerability and long-lasting correction of facial lines,
contouring and volume loss or lip enhancement. The terms of
the agreement are subject to the closing of Valeant's pending
acquisition of Medicis, which is expected to occur on December 11, 2012.
"We are pleased to have found a collaborative solution with
Galderma to create a long-term working relationship between our two
companies," said J. Michael Pearson,
chairman and chief executive officer. "The combination of
Restylane, Perlane and Sculptra, along with the future addition of
Emervel, delivers a broad and strong array of aesthetic product
offerings for doctors and patients. With this agreement, Valeant
and Galderma will continue to build a leading aesthetics presence
in North America."
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 neurology, dermatology and branded
generics. More information about Valeant Pharmaceuticals
International, Inc. can be found at www.valeant.com.
Forward-Looking Statements
This press release may contain forward-looking statements. These
forward-looking statements relate to, among other things, the
closing of the Medicis transaction, the final resolution of
existing litigation, and the addition of Emervel to the product
portfolio. Forward-looking statements can generally be identified
by the use of words such as "believe," "anticipate," "expect,"
"estimate," "intend," "continue," "plan," "project," "will," "may,"
"should," "could," "would," "target," "potential," and other
similar expressions. In addition, any statements that refer
to expectations, projections or other characterizations of future
events or circumstances are forward-looking statements.
Actual results may differ materially from those expressed or
implied in such statements. Important factors that could
cause actual results to differ materially from these expectations
include, among other things, the satisfaction of customary closing
conditions with respect to the closing of the Medicis transaction,
the approval by FDA of Emervel and the addition of Emervel to the
product portfolio, and the risk factors as detailed from time to
time in Valeant's reports filed with the Securities and Exchange
Commission and the Canadian Securities Administrators.
(Logo:
http://photos.prnewswire.com/prnh/20101025/LA87217LOGO)
Contact Information:
Laurie W. Little
949-461-6002
laurie.little@valeant.com
SOURCE Valeant Pharmaceuticals International, Inc.