Valeant Appoints Perrigo Executive Joseph Papa As Its Chairman And CEO

(RTTNews) - Valeant Pharmaceuticals International, Inc. (VRX, VRX.TO) announced that it has appointed Joseph Papa as its Chairman and Chief Executive Officer. Papa is expected to join Valeant by early May.

Papa, who will also join Valeant's Board of Directors, will succeed Michael Pearson, who is expected to remain as CEO and a director until Mr. Papa arrives at Valeant.

Papa will join Valeant from Perrigo Company plc where he served as Chairman and Chief Executive Officer.

Mr. Papa, 60, has more than 35 years of experience in the pharmaceutical, healthcare services and specialty pharmaceutical industries, including 20 years of branded prescription drug experience. Papa has been CEO of Perrigo since 2006 and was appointed as Chairman of the Board of Directors of Perrigo in 2007. Prior to Perrigo, Mr. Papa served from December 2004 to October 2006 as Chairman and Chief Executive Officer of the Pharmaceutical and Technologies Services segment of Cardinal Health, Inc. From 2001 to 2004, he served as President and Chief Operating Officer of Watson Pharmaceuticals, Inc. While at Novartis and Pharmacia /Searle, he was responsible for overseeing the successful launches of Diovan, Celebrex and Lotrel.

Earlier today, Perrigo Company plc (PRGO) announced the appointment of John Hendrickson as Chief Executive Officer, effective immediately, following the resignation and departure of Joseph Papa.