Market Overview

Valeant Pharmaceuticals Withdraws Offer for Acquisition of ISTA Pharmaceuticals

Valeant Pharmaceuticals International, Inc. (NYSE: VRX) today announced that it has withdrawn its offer to acquire ISTA Pharmaceuticals Inc. (Nasdaq: ISTA) for $7.50 per share in cash. Valeant had previously announced that the offer would only remain open until January 31, 2012, but withdrew the offer today due to lack of progress.

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