Valeant Pharmaceuticals is relocating its global headquarters to the Montreal region and will establish the Laboratore Dr. Renaud Centre of Excellence—a R&D center for consumer dermatology—in Laval, Quebec. Laboratoire Dr. Renaud and a newly acquired manufacturing facility will function as critical components of the Company's emerging position as a major player in dermatology. The team at Laboratoire Dr. Renaud will be dedicated to combining new active ingredients with proprietary formulation techniques.