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GEN News Highlights : Jun 5, 2007

Valeant Pharmaceuticals Sells Manufacturing Facilities in Switzerland and Puerto Rico

Final step in company’s restructuring completed.

Valeant Pharmaceuticals signed an agreement to sell its manufacturing facilities in Humacao, Puerto Rico, and Basel, Switzerland, to Legacy Pharmaceuticals. Terms of the transaction were not disclosed. Additionally, the sale includes the divestiture of the company’s product Reptilase.

“The sale of the two manufacturing sites in Basel and Humacao represents the final step in our restructuring initiative, most of which was completed last year,” reported Timothy C. Tyson, Valeant's president and CEO.