VALEANT PHARMACEUTICALS INTERNATIONAL, INC. FILES (8-K) Disclosing Change in Directors or Principal Officers, Financial Statements and Exhibits

Edgar Glimpses |

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;

           Appointment of Certain Officers; Compensatory Arrangements of Certain

On , the board of directors (the "Board") of Valeant Pharmaceuticals International, Inc. (the "Company") increased the number of directors of the Board from ten to eleven. In addition, on , upon the recommendation of the Nominating and Corporate Governance Committee of the Board, the Board appointed John A. Paulson a director of the Board. Mr. Paulson's current term as director will expire at the Company's 2018 annual shareholder meeting or upon his removal or resignation from the Board, whichever is earliest.

Mr. Paulson is the president of Paulson & Co., Inc., a New York-based investment firm.

Mr. Paulson will receive compensation as a non-employee director in accordance with the Company's non-employee director compensation practices, as described in the Company's Management Proxy Circular and Proxy Statement filed with the Securities and Exchange Commission on . There are no arrangements or understandings between Mr. Paulson and any other persons pursuant to which Mr. Paulson was selected as a director, and there have been no transactions since the beginning of the Company's last fiscal year, or are currently proposed, regarding Mr. Paulson that are required to be disclosed pursuant to Item 404(a) of Regulation S-K.

Mr. Paulson has not yet been named to any committees of the Board and, as of the date hereof, it has not been determined to which committees of the Board, if any, Mr. Paulson will be named.

A copy of the press release, dated , announcing the appointment of Mr. Paulson to the Board is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d)    Exhibits

Number                                Description

99.1 Press Release announcing the appointment of John A. Paulson to the Board

        of the Company, dated .


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