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– Willing To Enhance Present And Provide Benefit of at-Least $200 a Share – Urges Allergan Table to Take Control of Procedure LAVAL, Quebec, Oct. 27, 2014 /PRNewswire/ — Valeant Pharmaceuticals Worldwide, Inc. (NYSE: VRX) (TSX: VRX) reported today that it’s supplied a notification towards the Board of Directors of Allergan, Inc. (NYSE: AGN). As follows, the text of the page says: April 27, 2014 Board Inc. 2525 Dupont Irvine, of Directors Allergan, California 92612 Dear Board of Directors, One-month ago I extended the exact same time, an olive part, that has been summarily refused. You have rejected our offers to satisfy and answer any inquiries you may have about Valeant or just around our supply. Alternatively, you’ve helped management to carry on making baseless attacks. Our third-quarter earnings have obviously refuted those absolutely checked our business design and strikes. Allergan would not be exchanging anywhere near where it’s missing our offer, and our offer, also at the recent stock-price of Valeant, signifies an incredibly significant premium.

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Before we made our offer Allergan’s shares were investing at $110 at $117, and the beginning of the season. The peer and market group are not raised in 2013. Given this, it’s ridiculous that Allergan could be trading anywhere near where it’s currently without our present, despite having the cost cuts you belatedly put to us in place in-direct reaction. We feel our inventory is exchanging at artificially low levels C we are being told by our investors our stocks should really be dealing at significantly more than $150 per share. Your own lender had Valeant on its " Obtain Number" having a goal cost of $164 before we presented our 2015 view that didn’t get account of the benefit that will be a consequence of a combination and D and before we made our offer. A trading value of $150 is 15 occasions expert consensus for 2015 Money EPS. Valeant is willing to strengthen its present and offer your shareholders of at the least $200 a share with benefit to be obvious. We are confident that that value will be, provided by an escalation in our stock price, as well as in thought.

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No additional possible acquirer of Allergan gets the duty and working synergies that we have, no additional possible acquirer of Allergan can provide the importance that we may. Since we made our offer lots of your long-only shareholders, including your biggest shareholder other than Pershing Square, have distributed along. Numerous your huge that was remaining long only investors widely portrayed their concerns regarding measures you had been considering, and we recognize that lots have secretly stated these problems too. Equally ISS Lewis happen to be highly critical of the Panel. Its correct hues have been shown by administration through "horse-choking" attacks and frivolous lawsuit. It’s past time for your board to manage this method, do what’s proper for the Allergan shareholders and arrived at the stand. November 18 isn’t faraway. everybody could check there Sincerely, J.

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Pearson Chairman & Chief Executive Officer About Valeant Valeant Pharmaceuticals International, Inc. (NYSE/TSX:VRX) is a multinational specialty pharmaceutical business that grows, manufactures and markets a broad array of pharmaceutical items largely in the areas of dermatology, eyesight health, neurology and branded generics. More information about Valeant are available at www.valeant.com. Forward looking Statements This conversation might incorporate forwardlooking statements inside the meaning of the Personal Securities Litigation Reform Act of securities regulations that are Canadian and 1995. These forward looking statements incorporate, but are not limited to, statements regarding Valeantis offer to acquire Allergan, its capital of the proposed transaction, its predicted potential performance (including expected results of operations and monetary direction), and the combined business’s upcoming financial problem, running results, method and options. Forwardlooking statements may be revealed from the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," "opportunity," "tentative," "positioning," "designed," "create," "predict," "project," "seek," "ongoing," "upside," "increases" or "continue" and variants or equivalent words. These statements are in relation to the current objectives and beliefs of management and are subject to numerous assumptions and concerns that change time over and may cause actual results to change materially from those explained inside the forward-looking statements. These assumptions, challenges and worries include, but aren’t limited by, assumptions, dangers and uncertainties mentioned within the firm’s newest yearly or questionnaire registered with all the SEC and the Canadian Securities Administrators (the "CSA") and assumptions, hazards and worries regarding the proposed combination, as detailed from time to time in Valeant’s filings with all the SEC and also the CSA, which aspects are designed herein by research. Important factors that could cause real results to change materially in the forward-looking promises we create in this transmission are established in additional studies or papers that individuals report from time to time together with the SEC along with the CSA, you need to include, but are not restricted to: * the greatest outcome of the present – combination, including the ultimate eradication or even the inability to give inapplicable the hurdles to consummation of the second along with the offer – merger defined to change in the supply; * the last word outcome of Valeant’s pricing and managing strategy put on Allergan and outcomes of adding the procedures of Valeant and Allergan, the greatest outcome and also the supreme power to realize synergies; * the consequences of the proposed mixture of Valeant such as the mixed business’s upcoming monetary situation, plans, method and managing outcomes; * governmental regulation’s consequences on our organization or potential business combination transactions; * the capability satisfy with additional problems to the supply, such as the necessary stockholder agreement and to get approvals, on the regular basis; * Valeant’s power to retain and develop and increase revenues and cashflow from functions inside our markets and also to preserve our customer base, the requirement for invention as well as the related capital fees as well as the unknown fiscal conditions in the United States along with other markets; * the effect of opposition from market individuals that are other; * the growth of services; * the availability and accessibility, in-general, of funds to meet our debt responsibilities before or if they become due and to fund our functions and necessary cash costs, often through (i) money on-hand, (ii) free cash-flow, or (iii) access to the cash or credit areas; * our ability to adjust to all covenants inside our indentures and credit any breach which, services, if not cured in a regular fashion, may trigger a default of our additional commitments under corner-standard procedures; and * the dangers and issues detailed by Allergan with respect to its business-as described in papers and its accounts.

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All forwardlooking statements attributable to any person or us performing on our benefit are specially not unqualified in their whole by this statement. Readers are informed to not place undue reliance on these forward looking statements. These forward-looking statements communicate simply by the date hereof. Valeant undertakes no obligation to update these forward looking promises even to reveal actual outcomes or to reflect instances or activities after the date of this interaction. MORE INFORMATION This transmission doesn’t represent an offer to purchase or solicitation of an offer to offer any securities. The exchange offer which Valeant has built to Allergan stockholders is related to by this interaction. The exchange present will be built pursuant into a soft present assertion On-Schedule TO (such as the present to change, the correspondence of election and transmittal and also other relevant supply products) plus a registration record on Type S-4 recorded by Valeant with all the SEC on June 18, 2014 and with the CSA, as each could be reversed from time to time. These components incorporate information, including the offer’s terms and conditions. Furthermore, Valeant has recorded a preliminary proxy record with the SEC on June 24, 2014, as could be revised from time to time, Pershing Square Capital Management, L.P.

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("Pershing Square") has submitted a defined proxy statement with all the SEC on June 24, 2014, and Valeant and Pershing Square (and, in case a flexible deal is arranged, Allergan) may file one or more extra proxy statements or different papers with all the SEC. This communication is not an alternative for enrollment statement, almost any statement, prospectus or additional document Valeant and/ or Allergan have registered or might record with the SEC in connection with the proposed exchange. INVESTORS HOLDERS OF VALEANT ARE URGED TO SEE ANY DOCUMENTS FILED, AND THE OFFER ASSERTION, SUBSCRIPTION DECLARATION WITH ALL THE SEC CAREFULLY WITHIN THEIR ENTIRETY IF AND WHEN THEY BECOME BECAUSE THEY WILL CONTAIN INFORMATION ABOUT THE PROPOSED TRANSACTION. Any defined proxy record(s) (if and when available) will be shipped to stockholders of Allergan and/or Valeant, as appropriate. Buyers and security holders may obtain free copies of the tender present declaration, the registration statement and different papers (if and when accessible) submitted with the SEC by Valeant and/or Pershing Square through the web page maintained from the SEC at. Data concerning the brands and passions in Allergan and Valeant of Valeant and folks linked to Valeant who could be deemed members in any solicitation of Allergan or Valeant shareholders according of the Valeant suggestion to get a company combination with Allergan will come in the additional defined proxy taking components according of Allergan filed together with the SEC by Valeant on April 21, 2014, May 28, 2014 and November 25, 2014. Data concerning the names and interests in Allergan and Valeant of Pershing Square and individuals associated with Pershing Square who might be deemed players in almost any solicitation of Allergan or Valeant investors according of the Valeant pitch to get a business mixture with Allergan will come in additional defined proxy taking substance in respect of Allergan recorded together with the SEC by Pershing Square.

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The excess defined proxy taking substance known within this section can be had cost-free in the options indicated above. Contact Info: Valeant Pharmaceuticals: Traders: Media: Laurie N. Little Renee E. Soto Gavigan Pharmaceuticals Worldwide, Inc. Sard Verbinnen. 949-461-6002 212-687-8080 Brand – To view the original edition on PR Newswire, visit: Inc, sUPPLY Valeant Pharmaceuticals Worldwide.