8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

DATE OF REPORT (Date of earliest event reported): November 18, 2010 (November 18, 2010)

Valeant Pharmaceuticals International, Inc.

(Exact name of registrant as specified in its charter)

Canada
(State or other jurisdiction of incorporation) 001-14956
(Commission File Number) 98-0448205
(I.R.S. Employer Identification No.)

7150 Mississauga Road
Mississauga, Ontario
Canada	L5N 8M5
(Address of principal executive offices)	(Zip Code)

(905) 286-3000
(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

November 18, 2010, Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) issued a press release announcing that Valeant Pharmaceuticals International, its wholly owned indirect subsidiary, has priced its offering of 6.875% Senior Notes due 2018. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit
Number		Description
	99.1	Press Release announcing the pricing of the offering, dated November 18, 2010

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

VALEANT PHARMACEUTICALS INTERNATIONAL, INC.

By: /s/ Robert Chai-Onn

Name: Robert Chai-Onn

Title: Executive Vice President, General

Counsel and Corporate Secretary

November 18, 2010

EXHIBIT INDEX

Exhibit
Number		Description
	99.1	Press Release announcing the pricing of the offering, dated November 18, 2010

EX-99.1

Exhibit 99.1

International Headquarters
7150 Mississauga Road
Mississauga, Ontario L5N 8M5
Phone: 905.286.3000
Fax: 905.286.3050

Contact Information:
Laurie W. Little
949-461-6002
laurie.little@valeant.com

VALEANT ANNOUNCES PRICING OF SENIOR NOTES

     MISSISSAUGA, ONTARIO, November 18, 2010 — Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) (the “Company”) announced today that Valeant Pharmaceuticals International (“Valeant”), its wholly owned indirect subsidiary, has priced its previously announced offering of senior unsecured notes which consists of $1 billion of 6.875% Senior Notes due 2018 (the “Notes”). The $1 billion aggregate principal amount of the Notes was increased from the previously announced offering size of $700 million. The offering is expected to close on or about November 23, 2010.

     The Notes will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities law and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws. The Notes will be offered in the United States only to qualified institutional buyers under Rule 144A of the Securities Act and outside the United States under Regulation S of the Securities Act. The Notes have not been and will not be qualified for sale to the public by prospectus under applicable Canadian securities laws and, accordingly, any offer and sale of the securities in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws.

     The notes will be guaranteed by the Company and each of the Company’s subsidiaries (other than Valeant) that is a guarantor under Valeant’s senior secured credit facilities.

     Valeant intends to use the net proceeds from the offering of the Notes to repay its tranche B term loan facility under its credit facilities and for general corporate purposes, including acquisitions and debt repayment and share repurchases (including pursuant to its recently announced securities repurchase program).

     This press release shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.

About Valeant Pharmaceuticals International, Inc.

     Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics.

Caution Regarding Forward-Looking Information and “Safe Harbor” Statement

     This press release may contain forward-looking statements, including, but not limited to, our financing plans. Forward-looking statements may be identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “will,” “believes,” “estimates,” “potential,” or “continue” and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in the Company’s most recent annual or quarterly report filed with the Securities and Exchange Commission (“SEC”) and risks and uncertainties relating to the proposed merger, as detailed from time to time in the Company’s filings with the SEC and the Canadian Securities Administrators (“CSA”), which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. The Company undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.

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