Valeant Pharmaceuticals Announces Distribution Agreement for Zuacta™ in Canada

Valeant Pharmaceuticals International, Inc. VRX announced today that its subsidiary, Valeant International SRL, has entered into an agreement with sanofi-aventis Canada Inc. for the Canadian marketing and distribution rights to Zuacta™, a topical cream of zucapsaicin, which is indicated to be used in conjunction with oral COX-2 inhibitors or NSAIDs for the relief of severe pain in adult patients with osteoarthritis of the knee. Under the terms of the distribution agreement, sanofi-aventis will receive from VIB consideration that includes an initial payment payable on the delivery of the first shipment of product and milestone payments based on net sales. "Zuacta™ will be another strong addition to our product portfolio in Canada, where Valeant has an expertise and focus in the area of pain management," said J. Michael Pearson, chairman and chief executive officer. "Zuacta™ has already been approved by Health Canada and we expect to launch this compound in the third quarter of 2011. With a strong commercial infrastructure throughout Canada, we are in a unique position to further leverage our capabilities with new products, thus providing Valeant Canada with continued growth opportunities in the future."