Valeant Pharmaceuticals International (“VRX/VRX1C)
Anticipated Merger with
Biovail Corporation (BVF/BVF1C”)

Attached, for your information is an important memo from the Options Clearing Corporation.

We urge you to read this (see link) and distribute to others within your organization you deem
appropriate.

http://www.theocc.com/components/docs/market-data/infomemos/2010/sep/27659.pdf

Key Information:
VRX1C changes to VRX2C Anticipated on TBD
VRX1C Standard (100 Shares) Will not be reintroduced
GTC Order Handling* Handled by Firm

* Member firms must determine and make adjustments to GTC orders terms to meet their clients’
objectives and cancel or cancel/replace orders as appropriate.