Valeant Pharmaceuticals Withdraws Offer for Acquisition of ISTA Pharmaceuticals

Valeant Pharmaceuticals International, Inc.

today announced that it has withdrawn its offer to acquire ISTA Pharmaceuticals Inc.

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.