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www.fdanews.com/articles/75218-valeant-pharmaceuticals-sells-hungary-manufacturing-operations

VALEANT PHARMACEUTICALS SELLS HUNGARY MANUFACTURING OPERATIONS

August 10, 2005

Valeant Pharmaceuticals International (NYSE:VRX) today announced that it has sold its raw materials and manufacturing operations in Hungary to Sun Pharmaceutical Industries Ltd. of India. The operations sold were previously reported by Valeant as discontinued operations. Terms of the transaction were not disclosed. Timothy C. Tyson, Valeant's president and chief executive officer, said, "The sale of Hungary represents the final piece of our planned divestiture of non-core operations. Our core specialty pharmaceuticals business continues to strengthen and we have made substantial progress in achieving our business metrics. The divestiture of our remaining manufacturing facilities continues to advance aggressively and we remain confident in our ability to reduce the network to four manufacturing sites by the end of 2006."

Business Wire (http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20050809005896&newsLang=en)