MONTREAL, Dec. 5, 2012 /CNW/ - 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.
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Contact Information:
Laurie W. Little
949-461-6002
laurie.little@valeant.com
SOURCE Valeant Pharmaceuticals International, Inc.