Market Overview

Virtus Thwarts Efforts of Bausch Health (formerly known as Valeant) to Push Lower Priced Competing Drugs off the Market

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Virtus Pharmaceuticals, LLC continues its efforts to provide consumers
with access to lower cost drugs in the pharmaceutical industry, this
time by prevailing in a case against Bausch Health Companies (formerly
Valeant Pharmaceuticals) for chlordiazepoxide/clidinium products
prescribed to treat various stomach and intestinal conditions. Tina
Guilder, Virtus CEO, commented: "Virtus is committed to providing
patients with access to affordable drugs. I am pleased that U.S.
consumers will continue to have another quality choice for
chlordiazepoxide/clidinium at a reasonable price for the foreseeable
future."

On July 27, 2018, the International Trade Commission (ITC) terminated a
proceeding initiated by Bausch Health Companies seeking to stop the sale
of low-priced chlordiazepoxide/clidinium products such as one sold by
Virtus. Bausch Health sells a chlordiazepoxide/clidinium product called
Librax(r) and has reportedly raised its list price to more than $4400
per 100-ct bottle (drugs.com), even though the product has been
available for more than 50 years. Virtus has sold its products
containing the same active ingredients for years at a fraction of that
cost. Bausch Health sought to have the International Trade Commission
stop all domestic distribution of these less expensive products, which
would have allowed Bausch Health to deny consumers access to lower-cost
chlordiazepoxide/clidinium products. Without competition, companies are
free to sell their products at substantially higher prices. The reversal
at the ITC is a victory for Virtus and patients everywhere who will
retain access to lower-priced chlordiazepoxide/clidinium products.

About Virtus Pharmaceuticals

Virtus Pharmaceuticals' mission is to be the leading specialty niche
pharmaceutical company providing the highest quality products through
experienced leadership, innovative approaches and outstanding customer
service. For more information, please visit the Company's Web site at: www.virtusrx.com

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