Canada

Website:

www.valeantcanada.com

Website:

www.ldrenaud.com

Valeant Canada Limited is a specialty pharmaceutical company and a subsidiary of Valeant Pharmaceuticals International, Inc. Valeant Canada manufactures, markets and/or distributes pharmaceutical products to both primary care and specialist physicians in Canada. The Company focuses its efforts primarily in the areas of Pain Management, Cardiovascular Disease, Neurology and Dermatology. Valeant Canada's Canadian commercial operations are based in Montreal, Quebec.

The Biovail/Valeant merger has provided a solid platform to capitalize on the company's strong growth indicators. Our performance in 2010 when compared to 2009 shows the strengthening of the business over that of the historical growth rates of both businesses. Our key products in the Canadian market, Cesamet®, Tiazac® XC and Wellbutrin® XL, experienced double digit prescription volume growth in 2010 and we have several new product launches planned for 2011, including Onsolis, Ziana and Opana. Our successful track record in Canada, along with our strong commercial infrastructure, has made us logical partners for other companies looking for innovative ways to enter the Canadian market, without the risk and expense of building their own operational organization from scratch.

In December 2009, Valeant Canada Limited acquired Laboratoire Dr. Renaud, a leading cosmeceutical company located in Laval, Quebec, Canada. Laboratoire Dr. Renaud has been a leader in cosmetology for more than sixty years and enjoys a high degree of loyalty from esthetic clinics and spas. Manufacturing all its products in Canada for more than 40 years, Laboratoire Dr. Renaud relies on research and innovation to remain in the forefront of the industry with the highest performing products.

Valeant Canada's key neurology products are Wellbutrin® XL, a once-daily formulation of bupropion for the treatment of depression and seasonal affective disorder; Cesamet®, an oral antiemetic for chemotherapy-induced nausea; Diastat®, a benzodiazepine anticonvulsant; Nitoman® (tetrabenazine) for the treatment of hyperkinetic movement disorders, including chorea associated with Huntington's disease, and Xyrem®, a central nervous system (CNS) depressant. In the field of pain management, key products are Onsolis, a fentanyl citrate buccal soluble film for the treatment of breakthrough cancer pain, and Ralivia®, a once-daily formulation of tramadol for the treatment of chronic pain. With respect to cardiovascular disease, the key product is Tiazac® XC, a once-daily formulation of diltiazem for the treatment of hypertension and angina. Additionally, Valeant Canada's key dermatology products are Dermatix® Ultra, Efudex® and Glyquin® XM.

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