Valeant Comments On Allergan Announcement

Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) today commented on the announcement that Allergan, Inc. (NYSE: AGN) and Actavis plc (NYSE: ACT) have entered into a definitive agreement under which Actavis will acquire all outstanding shares of Allergan stock. "We have seen the announcement that Allergan and Actavis have made, and while we will review any such agreement in determining our course of action, Valeant cannot justify to its own shareholders paying a price of $219 or more per share for Allergan," said J. Michael Pearson, Chairman and CEO of Valeant. "Our business is performing extremely well as evidenced by our third quarter results, our expected strong fourth quarter, and our robust outlook for 2015, and I am confident in our continued ability to generate exceptional shareholder value. We will remain focused on delivering strong organic results and evaluating acquisition opportunities as we always have: prudently, in a disciplined manner, and in the best interests of our shareholders."