MONTREAL, Nov. 16, 2012 /PRNewswire/ -- Valeant
Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX)
announced today that the U.S. Federal Trade Commission (FTC) has
completed its review of the proposed acquisition of Medicis
Pharmaceutical Corporation (NYSE: MRX) by Valeant and has granted
early termination of the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976 (HSR) without conditions. The
grant of early termination is effective as of November 15, 2012.
The proposed merger remains subject to other customary closing
conditions, including the approval of the Medicis's stockholders at
its special meeting of stockholders scheduled for December 7, 2012. The Company expects to
close the merger within four business days following satisfaction
of all closing conditions.
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
These forward-looking statements relate to, among other things,
the expected timing of the close of the transaction.
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 expected timing of the close of
the transaction and the satisfaction of the closing conditions to
the transaction, and the risk factors as detailed from time to time
in Valeant's reports filed with the Securities and Exchange
Commission ("SEC") and the Canadian Securities Administrators
("CSA").
Contact Information:
Laurie
W. Little
949-461-6002
laurie.little@valeant.com
(Logo:
http://photos.prnewswire.com/prnh/20101025/LA87217LOGO)
SOURCE Valeant Pharmaceuticals International, Inc.