Valeant Pharma Reports Receipt of Approval from Antimonopoly Committee of Ukraine for Obagi Offer

Valeant Pharmaceuticals International, Inc.

announced that it has received approval by the Antimonopoly Committee of Ukraine (the "AMC") of its proposed acquisition of Obagi Medical Products, Inc.

("Obagi") pursuant to a tender offer and subsequent merger. The receipt of the AMC's approval of the acquisition satisfies one of the conditions to consummate the tender offer.  As previously announced, the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired.  The consummation of the tender offer remains subject to other customary conditions, all of which the parties expect to be satisfied. The tender offer for all of the outstanding shares of common stock of Obagi at a price of $24.00 per share, net to the seller in cash, without interest (less any required withholding taxes) expires at 12:00 midnight, New York City time, on Thursday, April 25, 2013 (which is one minute after 11:59 p.m. New York City time on Wednesday, April 24, 2013).  Valeant does not expect to further extend the offer and expects to complete the acquisition of Obagi on April 25, 2013 or shortly thereafter.