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JOINS VALEANT BOARD OF DIRECTORS
LAVAL, Quebec, June 19, 2017 -
Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) ("Valeant") today announced that its board of directors
has elected John Paulson to serve as a director, effective June 14, 2017. With the addition of Mr. Paulson, Valeant has a total
of 11 members on its board, 10 of whom are independent.
"We are pleased to welcome
John to Valeant's board of directors," said Joseph C. Papa, chairman and CEO, Valeant. "With his significant business
and financial expertise, John will be a strong addition to the board. His experience will be especially valuable as we continue
to execute on our transformational strategy to turnaround Valeant."
Mr. Paulson is the president of
Paulson & Co., Inc., a New York-based investment firm.
"The strategic plan to transform
Valeant smartly focuses on rebuilding the company's core franchises in ophthalmology, dermatology and gastroenterology while
simultaneously using the proceeds from the sale of non-core assets and operating cash flow to de-lever the company," said
Mr. Paulson. "I am fully supportive of the strategy and leadership team at 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 disorders, eye health, neurology and branded
generics. More information about Valeant can be found at www.valeant.com.
Forward-looking Statements
This press release may contain
forward-looking statements which 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, unless required by law.