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Valeant CEO to take over as chairman

Valeant Pharmaceuticals has appointed its current CEO J. Michael Pearson as Chairman of the Board of Directors.

He will replace Robert A. Ingram, who is to remain on the Valeant Board as an independent Board Director and Lead Director.

Pearson has also agreed to extend his contract as the company’s CEO through to February 2017.

“I am honored that the Board has shown its confidence in me with this appointment and that by extending my contract, allows me the privilege of leading this organisation for the next six years,” commented J. Michael Pearson.

“I continue to believe in Valeant’s long-term potential and I look forward to working with our team to execute on our strategy to become a leading specialty pharmaceutical company.”

Valeant Pharmaceuticals is a multinational specialty pharmaceutical company that focuses on neurology, dermatology and branded generics.

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