Valeant Pharmaceuticals Announces Increase of $300M to Monetary Limit Under Its Securities Repurchase Program

Valeant Pharmaceuticals International, Inc. VRX announced today that its Board of Directors has approved an increase of $300 million under its previously announced securities repurchase program. Under the Securities Repurchase Program, Valeant may now repurchase up to $1.8 billion of its convertible notes, senior notes, common shares and/or other notes or shares that may be issued prior to the completion of the program. As part of this Securities Repurchase Program, Valeant also recently announced that it had filed a Notice of Intention to make a normal course issuer bid to repurchase up to 1,000,000 of its common shares through the facilities of the Toronto Stock Exchange.