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Valeant Pharmaceuticals International

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BUSINESS
January 5, 2005 | Denise Gellene
Valeant Pharmaceuticals International of Costa Mesa said it named Timothy C. Tyson president and chief executive on Jan 1. He had been president and chief operating officer. He succeeds former CEO Robert W. O'Leary, who will continue as chairman. Valeant Pharmaceuticals International, formerly ICN Pharmaceuticals, derives much of its revenue from royalties on ribavirin, a drug for hepatitis C sold by Schering-Plough Corp. The company's shares fell 24 cents to $25.
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BUSINESS
December 16, 2011 | Bloomberg News
Shares of Ista Pharmaceuticals Inc. rose higher than the $327-million hostile bid by Valeant Pharmaceuticals International Inc. of Canada, indicating that investors expect more. The Irvine eye medications maker's stock climbed $2.79, or 71.7%, to $6.68 on Friday, more than the $6.50 a share offered by Valeant. The surge was the most since Ista became publicly traded in August 2000. Valeant, which has announced 10 acquisitions this year, made its bid public Friday after Ista rebuffed three approaches, the Ontario, Canada, company said in a statement.
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BUSINESS
November 22, 2003 | From Bloomberg News
Valeant Pharmaceuticals International, which changed its name from ICN Pharmaceuticals Inc. this month, must pay $846,000 in patent-infringement damages to TriStrata Technology Inc., a federal jury decided. The jury in Wilmington, Del., decided that Valeant's use of the inventions for skin lotion to bleach age spots was intentional, which may allow Judge Joseph Farnan Jr. to triple the damages.
BUSINESS
March 29, 2011 | Bloomberg News
Valeant Pharmaceuticals International Inc., a Canadian drugmaker focused on neurology and dermatology, made a hostile bid to buy Cephalon Inc. for about $5.7 billion, or $73 a share in cash. The offer is a 24% premium to Tuesday's closing price of $58.75 for Cephalon. The Frazer, Pa., company's shares jumped to $72.89 after the close of regular trading. Valeant will attempt to replace Cephalon's current board of directors with its own nominees after making several private approaches to the company, which showed "unwillingness to engage in discussions in a timely manner," Valeant said Tuesday.
BUSINESS
March 22, 2006 | From Bloomberg News
Shares of Valeant Pharmaceuticals International fell 14% after the drug maker said its Viramidine treatment for hepatitis C failed in a trial. Valeant said that the experimental drug didn't work as well as ribavirin, the standard treatment. The Costa Mesa-based company said it would continue to develop Viramidine because the study also showed that it did better than ribavirin when given at higher doses relative to body weight and that it caused less anemia.
BUSINESS
January 24, 2007 | From Bloomberg News and Reuters
Valeant Pharmaceuticals International said Tuesday it was recording $31.1 million in additional expenses for stock-based compensation awards. The Costa Mesa-based company, maker of an anti-nausea drug related chemically to marijuana, said in a regulatory filing that most of the awards were granted before a change in management and the board of directors in mid-2002. Valeant said its financial statements for 2003, 2004 and 2005 were restated, as well as selected data for 2001 and 2002.
BUSINESS
August 29, 2008 | From Bloomberg News
GlaxoSmithKline will pay Valeant Pharmaceuticals International as much as $820 million and a share of profit from the experimental epilepsy drug retigabine. Glaxo, based in London, and Valeant, based in Aliso Viejo, next year will seek U.S. and European approval to begin selling the drug, the companies said in a statement Thursday. Glaxo will pay $125 million now and as much as $695 million later as Valeant reaches development and regulatory goals. The companies also will split profit in the U.S., Canada, Australia, New Zealand and Puerto Rico, and Valeant will receive a 20% royalty on sales in the rest of the world.
BUSINESS
November 2, 2007 | From Times Wire Reports
Valeant Pharmaceuticals International swung to a loss in the third quarter, citing distribution delays in Mexico and weak U.S. sales for some products, the Aliso Viejo-based drug maker said Thursday. The third-quarter loss totaled $12 million, or 13 cents a share, compared with earnings of $13.7 million, or 14 cents, a year earlier, the company said. Revenue dipped 1% to $208.6 million.
BUSINESS
February 13, 2004 | From Bloomberg News
Valeant Pharmaceuticals International Inc., the drug maker that changed its name from ICN Pharmaceuticals last year, agreed to acquire Amarin Corp.'s U.S. operations for as much as $56 million to expand its line of neurology drugs. The purchase would give Valeant the rights to the Parkinson's disease drug Permax and to Zelapar, another Parkinson's treatment being developed by Elan Corp. and Cardinal Health Inc.'s RP Scherer unit.
BUSINESS
March 29, 2011 | Bloomberg News
Valeant Pharmaceuticals International Inc., a Canadian drugmaker focused on neurology and dermatology, made a hostile bid to buy Cephalon Inc. for about $5.7 billion, or $73 a share in cash. The offer is a 24% premium to Tuesday's closing price of $58.75 for Cephalon. The Frazer, Pa., company's shares jumped to $72.89 after the close of regular trading. Valeant will attempt to replace Cephalon's current board of directors with its own nominees after making several private approaches to the company, which showed "unwillingness to engage in discussions in a timely manner," Valeant said Tuesday.
BUSINESS
September 7, 2010 | By Nathan Olivarez-Giles, Los Angeles Times
The combined workforces of Valeant Pharmaceuticals International, based in Aliso Viejo, and Biovail Corp., in Ontario, Canada, will be reduced more than originally announced when Biovail said it was taking over the local firm. According to an e-mail included in a Securities and Exchange Commission filing Tuesday, Valeant Chief Executive J. Michael Pearson said that about 25% of the workforce would be laid off when the transaction was complete. In the June announcement, the companies placed job losses at 20%. As of the end of last year, Valeant had about 3,100 employees, and Biovail, Canada's largest drug company, had about 1,300, according to regulatory filings.
BUSINESS
June 22, 2010 | Nathan Olivarez-Giles
The once high-flying drug company Valeant Pharmaceuticals International of Aliso Viejo will be taken over by Biovail Corp. of Canada to form a new company that retains the Valeant name, the firms said Monday. The headquarters of the new Valeant will be in Mississauga, Ontario, but the Orange County office will remain open and the current Valeant chief executive, J. Michael Pearson, will head the new company. Not everyone will stay, however. Pearson said combining the companies, which is expected to be completed by the end of the year, would result in job cuts of up to 20% from their workforce.
BUSINESS
August 29, 2008 | From Bloomberg News
GlaxoSmithKline will pay Valeant Pharmaceuticals International as much as $820 million and a share of profit from the experimental epilepsy drug retigabine. Glaxo, based in London, and Valeant, based in Aliso Viejo, next year will seek U.S. and European approval to begin selling the drug, the companies said in a statement Thursday. Glaxo will pay $125 million now and as much as $695 million later as Valeant reaches development and regulatory goals. The companies also will split profit in the U.S., Canada, Australia, New Zealand and Puerto Rico, and Valeant will receive a 20% royalty on sales in the rest of the world.
BUSINESS
November 2, 2007 | From Times Wire Reports
Valeant Pharmaceuticals International swung to a loss in the third quarter, citing distribution delays in Mexico and weak U.S. sales for some products, the Aliso Viejo-based drug maker said Thursday. The third-quarter loss totaled $12 million, or 13 cents a share, compared with earnings of $13.7 million, or 14 cents, a year earlier, the company said. Revenue dipped 1% to $208.6 million.
BUSINESS
January 24, 2007 | From Bloomberg News and Reuters
Valeant Pharmaceuticals International said Tuesday it was recording $31.1 million in additional expenses for stock-based compensation awards. The Costa Mesa-based company, maker of an anti-nausea drug related chemically to marijuana, said in a regulatory filing that most of the awards were granted before a change in management and the board of directors in mid-2002. Valeant said its financial statements for 2003, 2004 and 2005 were restated, as well as selected data for 2001 and 2002.
BUSINESS
March 22, 2006 | From Bloomberg News
Shares of Valeant Pharmaceuticals International fell 14% after the drug maker said its Viramidine treatment for hepatitis C failed in a trial. Valeant said that the experimental drug didn't work as well as ribavirin, the standard treatment. The Costa Mesa-based company said it would continue to develop Viramidine because the study also showed that it did better than ribavirin when given at higher doses relative to body weight and that it caused less anemia.
BUSINESS
September 7, 2010 | By Nathan Olivarez-Giles, Los Angeles Times
The combined workforces of Valeant Pharmaceuticals International, based in Aliso Viejo, and Biovail Corp., in Ontario, Canada, will be reduced more than originally announced when Biovail said it was taking over the local firm. According to an e-mail included in a Securities and Exchange Commission filing Tuesday, Valeant Chief Executive J. Michael Pearson said that about 25% of the workforce would be laid off when the transaction was complete. In the June announcement, the companies placed job losses at 20%. As of the end of last year, Valeant had about 3,100 employees, and Biovail, Canada's largest drug company, had about 1,300, according to regulatory filings.
BUSINESS
December 16, 2011 | Bloomberg News
Shares of Ista Pharmaceuticals Inc. rose higher than the $327-million hostile bid by Valeant Pharmaceuticals International Inc. of Canada, indicating that investors expect more. The Irvine eye medications maker's stock climbed $2.79, or 71.7%, to $6.68 on Friday, more than the $6.50 a share offered by Valeant. The surge was the most since Ista became publicly traded in August 2000. Valeant, which has announced 10 acquisitions this year, made its bid public Friday after Ista rebuffed three approaches, the Ontario, Canada, company said in a statement.
BUSINESS
January 5, 2005 | Denise Gellene
Valeant Pharmaceuticals International of Costa Mesa said it named Timothy C. Tyson president and chief executive on Jan 1. He had been president and chief operating officer. He succeeds former CEO Robert W. O'Leary, who will continue as chairman. Valeant Pharmaceuticals International, formerly ICN Pharmaceuticals, derives much of its revenue from royalties on ribavirin, a drug for hepatitis C sold by Schering-Plough Corp. The company's shares fell 24 cents to $25.
BUSINESS
February 13, 2004 | From Bloomberg News
Valeant Pharmaceuticals International Inc., the drug maker that changed its name from ICN Pharmaceuticals last year, agreed to acquire Amarin Corp.'s U.S. operations for as much as $56 million to expand its line of neurology drugs. The purchase would give Valeant the rights to the Parkinson's disease drug Permax and to Zelapar, another Parkinson's treatment being developed by Elan Corp. and Cardinal Health Inc.'s RP Scherer unit.
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