SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Weldon Ryan (Last) (First) (Middle) 4787 LEVY STREET (Street) MONTREAL A8 H4R 2P9 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 12/11/2012	3. Issuer Name and Ticker or Trading Symbol Valeant Pharmaceuticals International, Inc. [ VRX ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) EVP, Company Group Chairman	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, no par value	52,709(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-Qualified Stock Options (right to purchase)	11/06/2012	11/06/2018	Common Shares, no par value	43,615	$6.39	D
Non-Qualified Stock Options (right to purchase)	03/03/2014	03/03/2017	Common Shares, no par value	87,231	$13.24	D
Non-Qualified Stock Options (right to purchase)	10/08/2014	11/11/2015	Common Shares, no par value	31,179	$25.42	D
Restricted Stock Units	(2)	(2)	Common Shares, no par value	20,694(3)	$0	D

Explanation of Responses:

1. This number represents common stock (52,318) and Restricted Share Units (391) directly owned by the reporting officer at the time of initial filing.

2. The performance based RSUs are eligible to vest on the achievement of TSR targets ranging from 15% to 45% over a base price of $26.51 on each of three measurement dates: 25% would vest on June 28, 2013, 50% on September 28, 2013 and 25% on December 28, 2013, with early vesting possible at higher TSR levels.

3. Each Restricted Share Unit ("RSUs") was designed to issue between zero and three common shares, no par value, of Valeant Pharmaceuticals International, Inc. ("Valeant"), subject to performance based vesting criteria. The reporting officer has already received one times the amount due to a one time payout being met. The Restricted Share Unit now can issue between one and two more common shares no par value, of Valeant Pharmaceuticals International, Inc. ("Valeant"), subject to performance based vesting criteria.

	by: Nicholas Zanoni for Ryan Weldon	12/11/2012
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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