Valeant Appoints New CEO

The Valeant Pharmaceuticals International Board of Directors has named Joseph C. Papa as the company’s chairman and CEO. He is expected to join Valeant by early May. Papa, who will also join Valeant's Board of Directors, will succeed J. Michael Pearson, who is expected to remain CEO and a director until Papa arrives.

Papa has more than 35 years of experience in the pharmaceutical, healthcare and specialty pharmaceutical industries, including 20 years of branded prescription drug experience. He previously served as chairman and CEO of Perrigo Company, a global healthcare supplier that develops, manufactures and distributes over-the-counter and prescription pharmaceuticals. Prior to Perrigo, Papa held positions as chairman and CEO of the Pharmaceutical and Technologies Services segment of Cardinal Health, and president and COO of Watson Pharmaceuticals.

“The Board has conducted a thorough search process and believes that Joe is the ideal leader for Valeant at this time. He has a strong shareholder orientation, a background in science and an unmatched track record of accomplishments, highlighted by his ability to lead companies through times of transition and drive excellence across commercial, manufacturing and R&D platforms” said Robert Ingram, Chairman of the Board. “In addition, fostering an ethical culture and creating opportunities for professional development have always been high priorities for Joe, and we look forward to Joe’s arrival at Valeant.”

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