Valeant Pharmaceuticals added Sarah Kavanagh to its Board of Directors

– CANADA, Laval – Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) today announced that the Board of Directors has appointed Ms. Sarah B. Kavanagh to serve as a director of the Board, effective July 22, 2016. With these changes, Valeant has increased the size of its board to 12 members, 11 of whom are independent.

“We are pleased that Sarah has agreed to join Valeant’s board,” said Joseph C. Papa, chairman and chief executive officer. “We want to ensure that Valeant’s board is a balanced group of individuals with complementary perspectives and expertise. As a Canadian based company, Sarah’s broad experience in corporate finance and securities administration matters in Canada makes her an ideal addition to our Board of Directors.”

From June 2011 through May 2016, Ms. Kavanagh served as a Commissioner, and since 2014 as Chair of the Audit Committee, at the Ontario Securities Commission. She is currently a director and Chair of the Audit Committee of Hudbay Minerals Inc. and a Trustee and Chair of the Compensation and Governance Committee of WPT Industrial REIT. In addition to her public company directorships, she is a director and Chair of the Audit Committee at the American Stock Transfer & Trust Company LLC and the Canadian Stock Transfer Company, a director and Chair of the Audit and Investment Committee of Sustainable Development Technology Canada and a director of Canadian Tire Bank. Between 1999 and 2010, Ms. Kavanagh served in various senior investment banking roles at Scotia Capital Inc., including Vice-Chair and Co-Head of Diversified Industries Group, Head of Equity Capital Markets, Head of Investment Banking. Prior to Scotia Capital, Sarah held several senior financial positions with operating companies. She started her career as an investment banker with a bulge bracket firm in NY. Ms. Kavanagh graduated from Harvard Business School with a Masters of Business Administration and received a Bachelor of Arts degree in Economics from Williams College. Ms. Kavanagh also completed the Directors Education Program at the Institute of Corporate Directors in May 2011.

About 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.

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