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`October 30, 2015
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`LAVAL, Quebec, Oct. 30, 2015 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) announced today that
`it is severing all ties with Philidor Rx Services, LLC, and that Philidor has informed Valeant that it will shut down operations as soon as
`possible, consistent with applicable laws.
`
`"The newest allegations about activities at Philidor raise additional questions about the company's business practices," said J. Michael
`Pearson, Valeant's chairman and chief executive officer. "We have lost confidence in Philidor's ability to continue to operate in a manner that
`is acceptable to Valeant and the patients and doctors we serve."
`
`"We understand that patients, doctors and business partners have been disturbed by the reports of improper behavior at Philidor, just as
`we have been," Pearson said. "We know the allegations have also led them to question Valeant and our integrity, and for that I take
`complete responsibility. Operating honestly and ethically is our first priority, and you have my absolute commitment that we will make it
`right."
`
`Valeant intends to develop a plan to ensure patients' access to drugs is minimally disrupted. Valeant has informed Philidor that to the extent
`that managed care plans will no longer reimburse prescriptions in process, Valeant will fill them at the company's expense.
`
`"We are committed to doing everything we can to provide important medicines to the patients and doctors who depend on them, and will
`continue to explore relationships with the full range of pharmacies to ensure patients have access to the drugs they need," Pearson said.
`
`In the Third Quarter 2015, Philidor represented 6.8% of total Valeant revenue.
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`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 disorder, eye
`health, neurology and branded generics. More information about Valeant can be found at www.valeant.com.
`
`Forward-looking Statements
`
`This press release may contain forward-looking statements, including, but not limited to, statements regarding the termination of Valeant's
`relationship with Philidor, the timing of the shutdown of Philidor operations, Valeant's plans to ensure patients' access to drugs and the
`potential disruption of such access and Valeant's filling of prescriptions not reimbursed by managed care plans. Forward-looking statements
`may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will,"
`"believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the
`current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ
`materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and
`uncertainties discussed in the Company's most recent annual or quarterly report and detailed from time to time in Valeant's other filings
`with the Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by
`reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking
`statements speak only as of the date hereof. Valeant undertakes no obligation to update any of these forward-looking statements to
`reflect events or circumstances after the date of this press release or to reflect actual outcomes, unless required by law.
`
`Contact Information:
`Laurie W. Little
`949-461-6002
`laurie.little@valeant.com
`
`Elif McDonald
`905-695-7607
`elif.mcdonald@valeant.com
`
`Media:
`Renee E. Soto/Meghan Gavigan
`Sard Verbinnen & Co.
`212-687-8080
`rsoto@sardverb.com / mgavigan@sardverb.com
`
`Logo - http://photos.prnewswire.com/prnh/20101025/LA87217LOGO
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`To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/valeant-to-terminate-relationship-with-
`philidor-300169414.html
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`Page 1 of 2
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`ACRUX DDS PTY LTD. et al.
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`EXHIBIT 1552
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`IPR Petition for
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`U.S. Patent No. 7,214,506
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`SOURCE Valeant Pharmaceuticals International, Inc.
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`Page 2 of 2
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