Valeant Pharmaceuticals International Announces Increase in Share Repurchase Authorization

ALISO VIEJO, Calif.--(BUSINESS WIRE)--Valeant Pharmaceuticals International (NYSE: VRX) today announced that its board of directors has authorized the repurchase of an additional $100 million of its outstanding common stock under its 2007 stock repurchase program. This repurchase authorization raises the aggregate repurchase authorization to $300 million from the $200 million over a period of 24 months previously approved by the board on June 7, 2007. The repurchase program is designed to increase shareholder value and reflects the company’s confidence in the long-term value of its common stock.