Paulson & Co., Inc. Reiterates Confidence In Valeant Strategy

Marginally Reduces Holdings of Valeant Due to Required Rebalancing of Portfolio

LAVAL, Quebec, Aug. 9, 2017 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) ("Valeant" or the "Company") confirms that Paulson & Co., Inc. has filed a Schedule 13D with the U.S. Securities and Exchange Commission to reflect certain changes related to its equity holdings of Valeant.

"These changes in our Valeant holding are required divestments and do not reflect any change in my confidence of the strategy to transform Valeant. I continue to remain fully supportive of the Valeant leadership team," said John Paulson, president of Paulson & Co., Inc. "These sales are due to the rebalancing of our portfolios based on asset flows, and represent approximately 4.5 percent of our common stock holdings."

About Valeant
Valeant Pharmaceuticals International, Inc. (NYSE/TSX:VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, gastrointestinal disorders, eye health, neurology and branded generics. More information about Valeant can be found at www.valeant.com.

Forward-looking Statements
This press release may contain forward-looking statements which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in the Company's most recent annual or quarterly report and detailed from time to time in Valeant's other filings with the Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements.  These forward-looking statements speak only as of the date hereof. Valeant undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes, unless required by law.

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SOURCE Valeant Pharmaceuticals International, Inc.