Valeant

Valeant Announces New Leadership Team

Valeant Dermatology has introduced a new senior leadership team, led by Bill Humphries, executive vice president and group chairman. The senior team includes Michael McMyne, vice president of sales; Stacey Williams, vice president of marketing; Charles Hahn, vice president of professional and specialty development; Ed Shupenus, executive director of marketing operations; and Steve Kreider, executive director of sales and marketing for SILIQ (brodalumab) injection for subcutaneous use.

Valeant Completes Debt-Reducing Refinancing Transactions

Valeant Pharmaceuticals International has closed its previously announced refinancing transactions. These include its offering of $1.25 billion aggregate principal amount of 6.50% senior secured notes due in 2022, and $2 billion aggregate principal amount of 7% senior secured notes due in 2024. The company borrowed an additional $3 billion (approximately) of new term loans maturing in 2022.

Valeant Elects New SVP

Valeant Pharmaceuticals has named Sam Eldessouky senior vice president and corporate controller effective immediately. Eldessouky will be responsible for directing global accounting and financial reporting activities to ensure accurate and timely compliance with all internal and external requirements, and he will drive efficiencies and standardization throughout the global accounting function to enhance the monthly close, consolidations, controls and reporting processes. He will report directly to Valeant’s EVP and CFO, Robert Rosiello.

Allergan Files Lawsuit Against Valeant and Pershing Square

Allergan Files Lawsuit Against Valeant and Pershing Square

Allergan has filed a lawsuit in the United States District Court for the Central District of California against Valeant Pharmaceuticals International, Pershing Square Capital Management and its principal, William A. Ackman, alleging that Valeant, Pershing Square and Mr. Ackman violated federal securities laws prohibiting insider trading, engaged in other fraudulent practices, and failed to disclose legally required information.

Valeant Completes Acquisiton of PreCision and Submits HSR Filing for Proposed Acquisition Of Allergan

Valeant Pharmaceuticals International has completed its acquisition of PreCision Dermatology, which develops and markets high-quality dermatology products, including Locoid, Hylatopic, and Clindagel.

On July 14, 2014, Valeant announced it had filed a premerger notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR) with the U.S. Federal Trade Commission (FTC) relating to the proposed acquisition of Allergan.

Valeant Sells Filler And Toxin Assets To Galderma

Valeant Sells Filler And Toxin Assets To Galderma

Valeant Pharmaceuticals International has sold all rights to injectables Restylane, Perlane, Emervel, Sculptra and Dysport owned or held by Valeant to Galderma for $1.4 billion in cash. The sale is pursuant to a previously announced agreement with Nestle S.A, which recently acquired Galderma.

Two of the newly acquired fillers, Emervel Classic and Emervel Deep, have been submitted for approval by the FDA and Health Canada and are currently under review.

FDA Approves Restylane Silk

The U.S. Food and Drug Administration (FDA) has issued marketing clearance for Restylane Silk Injectable Gel with 0.3% Lidocaine (Valeant Pharmaceuticals), indicated for submucosal implantation for lip augmentation and dermal implantation for correction of perioral rhytids in patients over the age of 21.