Valeant Completes Completes $2.6B Acquisition of Medicis

Valeant Completes Acquisition of Medicis and Announces Date of 2013 Financial Guidance Conference Call

MONTREAL, Dec. 11, 2012/PRNewswire/

Valeant Pharmaceuticals International, Inc.(NYSE: VRX and TSX: VRX) today announced the completion of its acquisition of Medicis Pharmaceutical Corporation(“Medicis”) following the approval of the transaction by stockholders of Medicis at the special meeting held on December 7, 2012. Valeant acquired all of the common stock of Medicis outstanding at the time of the completion of the acquisition, for $44.00per share in cash.

In addition, Valeant will be hosting a conference call and a live Internet webcast along with a slide presentation on Friday, January 4, 2013 at 8:00 a.m. EST(5:00 a.m. PST) to announce 2013 financial guidance.

The dial-in number to participate on this call is (877) 295-5743, confirmation code 80343257. International callers should dial (973) 200-3961, confirmation code 80343257. A replay will be available approximately two hours following the conclusion of the conference call to Friday, January 11, 2013, and can be accessed by dialing (855) 859-2056 or (404) 537-3406, confirmation code 80343257.

The webcast and slide presentation will be hosted in the investor relations section of its corporate Web site at www.valeant.com. Participants should allow approximately five to 10 minutes prior to the call’s start time to visit the site and to download any streaming media software needed to listen to the Internet webcast. An online archive of the webcast will be available following the end of the live call in the webcast archive portion of the investor relations

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.

Contact Information: Laurie W. Little 949-461-6002 laurie.little@valeant.com

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SOURCE Valeant Pharmaceuticals International, Inc.