Valeant to Acquire Vital Science Corp. in Canada


    


    
</pre>
<p>ALISO VIEJO, Calif., <span class="xn-chron">April 28</span> /CNW/ -- Valeant Pharmaceuticals International (NYSE:   VRX) today announced that its wholly owned subsidiary, Valeant <span class="xn-location">Canada</span> Limited, has signed an agreement to acquire Vital Science Corp., a leading over-the-counter (OTC) dermatology company located in <span class="xn-location">Toronto</span>, Ontario, <span class="xn-location">Canada</span> for approximately C$10.5 million.  Vital Science currently has annualized sales of approximately C$11 million and the transaction is expected to be accretive in 2010.  The transaction is subject to certain closing conditions and is expected to close in the second quarter.</p>
<p/>
<p>"Combining another attractive dermatology company with the <span class="xn-person">Dr. Renaud</span> portfolio we acquired last year is another significant step in our Canadian strategy," said J. <span class="xn-person">Michael Pearson</span>, chairman and chief executive officer.  "Vital Science's established brands such as dermaglow® and Heiko, along with its strong distribution network in the Canadian retail channel, will enhance our current portfolio of products while providing us with the ability to more broadly promote our U.S. consumer brands such as CeraVe and Kinerase in the Canadian marketplace.  We look forward to continuing to actively support the promotion of dermaglow® and Heiko in the Canadian market as well as select international geographies."</p>
<pre>
    

    About Valeant
    
</pre>
<p>Valeant Pharmaceuticals International (NYSE:   VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology and dermatology.  More information about Valeant can be found at <a href="http://www.valeant.com">www.valeant.com</a>.</p>
<pre>
    

    FORWARD-LOOKING STATEMENTS
    
</pre>
<p>This press release may contain forward-looking statements, including, but not limited to, statements regarding Valeant's efforts to build a dermatology business and the company's ability to more broadly promote consumer brands such as CeraVe and Kinerase in the Canadian marketplace and statements regarding the expected timing and consummation of the acquisition.  Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," 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 filed with the U.S. Securities and Exchange Commission, which factors are incorporated herein by reference.  Readers are cautioned not to place undue reliance on any of these forward-looking statements. 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.</p>
<pre>
    

    (Logo: http://www.newscom.com/cgi-bin/prnh/20081125/VALEANTLOGO)

    
</pre>
<p> </p>
<p> </p>
<pre>
    
    Contact:
    Laurie W. Little
    Valeant Pharmaceuticals
    949-461-6002
    laurie.little@valeant.com






    

For further information: For further information: Laurie W. Little of Valeant Pharmaceuticals, +1-949-461-6002, laurie.little@valeant.com Web Site: http://www.valeant.com


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890