VALEANT PHARMACEUTICALS SETTLES GALENIKA DISPUTE
Valeant Pharmaceuticals International todayannounced
that it has reached an agreement to resolve itslong-standing dispute with the
Health Fund of Serbia and the Republicof Serbia regarding their joint venture,
Galenika. Under theagreement, Valeant collected $28 million of a total of $34
millionagreed to be paid in settlement of the dispute. Valeant expects Serbiato
pay the remaining $6 million in the first quarter of 2007.