ValueAct Capital Discloses Sale of Shares of Valeant Pharmaceuticals International, Inc.

SAN FRANCISCO, June 11, 2015 /PRNewswire/ -- ValueAct Capital Management, L.P. announced today that it has sold 4.2 million shares of Valeant Pharmaceuticals International, Inc. (NYSE: VRX; TSX: VRX) in brokers' transactions on the NYSE.

ValueAct Capital's CEO Jeffrey W. Ubben said: "Mike Pearson and the Valeant team's exceptional performance have once again caused our investment in Valeant to grow in value to well above 20% of our funds' assets, and we are again compelled to reduce our position to rebalance our overall portfolio.  We have owned Valeant shares for over nine years and have sold shares on three previous occasions for the same portfolio management purposes. After this sale, our investment in Valeant will continue to be well in excess of $3.0bn and will be one of the largest investments in our funds. I look forward to continuing to work with Mike and my fellow members of the Board of Directors."

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements.  All statements contained in this press release that are not clearly historical in nature or that necessarily depend on future events are forward-looking, including statements regarding ValueAct Capital's expectations regarding its portfolio and its investment in Valeant and statements that include the words "anticipate," "believe," "expect," "estimate," "plan," "will" and similar expressions are generally intended to identify forward-looking statements.  These statements are based on current expectations of ValueAct Capital and currently available information. They are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not prove to be accurate.  ValueAct Capital does not assume any obligation to update any forward-looking statements contained in this press release, except as required by applicable law.

About ValueAct Capital

ValueAct Capital is an investment management firm founded in 2000 with assets under management of approximately $20 billion. ValueAct Capital's investment strategy combines intensive due diligence, a concentrated number of investments, and active, constructive involvement in the value creation at those investments.

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