Biopharmaceuticals Neurology

 News Release - October 17, 2008

Valeant Pharmaceuticals and GlaxoSmithKline Complete Worldwide Collaboration Agreement for Retigabine

Valeant Receives $125 Million Upfront

ALISO VIEJO, Calif., October 17, 2008 --(HSMN NewsFeed)--Valeant Pharmaceuticals International (NYSE:VRX ) today announced that it has closed on its exclusive worldwide collaboration agreement with GlaxoSmithKline (GSK) for the investigational drug retigabine, a first-in-class neuronal potassium channel opener for the treatment of adult epilepsy patients with refractory partial onset seizures. Under the terms of the agreement, Valeant received an upfront payment of $125 million from GSK.

About Valeant

Valeant Pharmaceuticals International (NYSE:VRX ) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology and dermatology. More information about Valeant can be found at www.valeant.com.

Source: Valeant Pharmaceuticals

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