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Valeant Statement on Management Cease Trade Order

March 31, 2016

As previously announced, Valeant asked the Autorité des marchés financiers, the company’s principal regulator in Canada, for a management cease trade order pending filing of the audited annual financial statements for the year ended December 31, 2015, the related management’s discussion and analysis, certificates of its CEO and CFO and its 2015 Form 10-K. The order issued today applies only to trading by the directors, CEO and CFO of Valeant.  It does not apply to trading by other persons. The company is working diligently and intends to make the required filings on or before April 29, 2016.


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