Valeant Pharmaceuticals Agrees To Acquire Amoun Pharmaceutical

Valeant Pharmaceuticals International, Inc. today announced that it has entered into a definitive agreement under which Valeant will acquire Mercury (Cayman) Holdings.

PRESS RELEASE

LAVAL, Quebec

,

July 17, 2015

/PRNewswire/ --

Valeant Pharmaceuticals International, Inc.

(NYSE: VRX and TSX: VRX) today announced that it has entered into a definitive agreement under which Valeant will acquire

Mercury (Cayman) Holdings

, the holding company of Amoun Pharmaceutical, for consideration of approximately

US$800 million

, plus contingent payments.

Amoun Pharmaceutical is the largest domestic company in the Egyptian pharmaceutical market and currently expects to reach

EGP 1.75 billion

by 2015, with annual growth of approximately 20%. Amoun operates a large, state-of-the-art manufacturing plant that is considered to be one of the largest and most up-to-date pharmaceutical facilities in

Africa

and the

Middle East

and has market leading pharmaceutical brands in therapeutic areas such as anti-hypertensives, broad spectrum antibiotics and anti-diarrheals.

Valeant intends for Amoun to serve as a platform for further expansion in the broader

Middle East

and

North Africa

pharmaceutical market and expects the transaction to close in the third quarter, subject to customary closing conditions.