| Valeant Pharmaceuticals International (NYSE: VRX) is a multinational specialty pharmaceutical company that develops and markets prescription and nonprescription pharmaceutical products that make a meaningful difference in patients’ lives. Valeant is principally focused in the neurology and dermatology therapeutic areas in strategic markets primarily in the United States, Canada, Mexico, Brazil, Australia, and New Zealand. Fifty-eight percent of the company’s sales come from brands with leading market positions, including Diastat® AcuDial™, Mestinon®, Efudex®, Bedoyecta® and Kinerase®.
In February 2008, Valeant’s board of directors appointed J. Michael Pearson as the company’s Chairman of the Board and Chief Executive Officer to drive a new strategic plan to refocus and realign the company’s goals. Valeant unveiled a new strategy in March that will significantly reduce the company’s current geographic footprint, simplify its diverse product portfolio and build on the company’s strengths in neurology and dermatology. Valeant plans to maximize its pipeline through strategic partnering to optimize current research and development assets and strengthen ongoing internal development capabilities.
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