LAVAL, QC, May 21, 2013 /CNW Telbec/ - Valeant Pharmaceuticals
International, Inc. (NYSE: VRX) (TSX: VRX) today announced the official
inauguration of the Company's new international headquarters in Laval.
Valeant's Chairman of the Board and Chief Executive Officer J. Michael
Pearson presided over the ceremonies accompanied by Valeant Canada
President and General Manager, Jacques Dessureault, the Minister of
Higher Education, Research, Science and Technology, Pierre Duchesne,
and the Mayor of Laval, Alexandre Duplessis. Valeant has created a
precedent by becoming the first and only multinational pharmaceutical
firm whose international head office is in Quebec.
"Valeant has always had a strong Canadian presence and with our
operations continuing to perform well, we expect to continue to
increase our activities here in Canada. Our vision is no less than to
become the world leader in the dermatology sector and our commitment is
to achieve this here from our base in Quebec, one of our centers for
dermatology development," specified Valeant Chairman and CEO J. Michael
In recent years, Valeant's winning strategy has led to its growth into
the biggest Canadian pharmaceutical firm through a large number of
targeted acquisitions. Such actions include the Biovail
Corporation-Valeant merger, as well as the acquisitions of Medicis
Pharmaceutical Corporation, Dermik, a division of Sanofi, and, more
recently, California-based Obagi Medical Products, which specialize in
"Establishing Valeant's international headquarters in the Montreal
region provides tangible benefits for Quebec and its economy. Thanks to
our actions, we are consolidating high-level jobs in an
ultra-specialized sector and are keeping the expertise and know-how in
Quebec," added Valeant Canada President and General Manager Jacques
Valeant's acquisition of Dermik in 2011 for approximately $425 million
included the land, office building, plant and equipment in Laval. In
addition, the Company has invested approximately $70 million in
investments for modernizing the facilities and for transferring
production from Montreal to Laval.
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, neurology and branded generics.
More information about Valeant Pharmaceuticals International, Inc. can
be found at www.valeant.com.
This press release may contain forward-looking statements, including,
but not limited to, statements regarding our expectation to increase
our activities here in Canada and becoming the world leader in the
dermatology sector. 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 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.
SOURCE: Valeant Pharmaceuticals International, Inc.
For further information:
Laurie W. Little