Valeant Pharmaceuticals International, Inc. announced that Howard B. Schiller has been appointed interim chief executive officer of the company, effective immediately. Mr. Schiller served as Valeant's chief financial officer from December 2011 through June 2015 and currently serves on Valeant's Board of Directors. Valeant also announced that Robert Ingram, Lead Independent Director, will serve as interim chairman of the Board of Directors.

J. Michael Pearson remains in the hospital where he is being treated for severe pneumonia, and as the timing of his expected return is uncertain, he will be on a medical leave of absence until further notice. Mr. Schiller was the chief operating officer for the Investment Banking Division of Goldman Sachs. Since January 2007, Mr. Ingram has been a general partner at Hatteras Venture Partners.

Since January 2010, he has served as a special advisor to the Chief Executive Officer of GlaxoSmithKline.