Valeant Pharmaceuticals must pay $2.4 million in damages to Caleel + Hayden

By Lisa Kerner

Charlotte, N.C., July 11 - A jury in Orange County Superior Court ruled against Valeant Pharmaceuticals International, awarding $2.4 million in damages to Caleel + Hayden, LLC.

The lawsuit is the result of Valeant's termination of a distribution agreement for the Kinerase product line.

Valeant said it will record the award as a charge to its 2006 second quarter results and is exploring the possibility of an appeal.

Based in Costa Mesa, Calif., Valeant is a research-based specialty pharmaceutical company that discovers, develops, manufactures and markets a range of pharmaceutical products.

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