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Valeant Pharma Names Ryan Weldon, Jason Hanson To Executive Management Team

Canadian drugmaker Valeant Pharmaceuticals International Inc. (VRX,VRX.TO) said Wednesday that Ryan Weldon and Jason Hanson will be named to its executive management team. The appointments will be effective upon the close of Valeant's acquisition of Medicis Pharmaceutical Corp, (MRX), currently expected to occur on December 11.

In early September, Valeant said it agreed to buy Scottsdale, Arizona-based Medicis for $2.6 billion in cash. Medicis makes various products for the treatment of dermatological and aesthetic conditions. Its portfolio includes leading prescription brands Solodyn, Restylane, Perlane, Ziana, Dysport and Zyclara.

Weldon will assume the role of executive vice president/company group chairman, where he will lead the U.S. dermatology operations that includes prescription dermatology, aesthetics and podiatry. Weldon will relocate to Arizona, where these operations will be based.

Hanson will relocate to New Jersey, where he will assume the role of executive vice president/company group chairman, and lead certain U.S as well as international businesses and functions to be named later.

Weldon has served as vice president & general manager, aesthetics since December 2011 and vice president & general manager, neurology & Other, since January 2010. He joined Valeant in 2008 after working for McKinsey & Co. and Johnson & Johnson (JNJ).

Hanson has served as executive vice president, chief operating officer of Medicis since July 2010, and as executive vice president since 2006. He joined Medicis in 2006 and was appointed to the position of executive vice president, general counsel, and corporate secretary.

From April 2004 to July 2006, Hanson served as general counsel for GE Healthcare Technologies (GE), where he was responsible for the global legal affairs of GE Healthcare Technologies. He was also a member of the company's senior management team.

In addition, Valeant appointed Vince Ippolito as senior vice president, general manager, aesthetics, and Justin Smith as senior vice president, general manager U.S. Rx Dermatology. Both will report to Weldon in Scottsdale, Arizona. Ippolito and Smith have each held various sales and marketing leadership positions at Medicis.

Ippolito has served with Medicis for ten years, where he most recently served as executive vice president, sales and marketing. During his tenure at Medicis, he helped launch more than ten new products, including Loprox Shampoo, Vanos, Restylane, Perlane, Solodyn, Ziana and Dysport. Prior to joining Medicis, Ippolito was employed by Novartis AG (NVS).

Smith has been with Medicis for fifteen years where he most recently served as senior vice president, marketing for both dermatology and aesthetics products. Most recently, he spearheaded Medicis' access solutions strategy and was responsible for launching Solodyn. He has also held senior positions in sales management.

Valeant, which makes pharmaceutical products in the areas of neurology, dermatology, and branded generics, has acquired smaller companies in recent years to expand its product portfolios. That includes the December 2011 acquisition of French drug maker Sanofi's (SNY, SNYNF.PK) dermatology business, Dermik, for $422.5 million.

In Wednesday's regular session, VRX is trading at $54.84, down $0.07 or 0.13 percent on a volume of 130,411 shares.

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