Rajiv De Silva, president and chief operating officer of Specialty Pharmaceuticals at Valeant Pharmaceuticals is leaving the company to pursue other interests. Mr. De Silva will remain with the company through the remainder of the year, when the integration planning efforts related to the Medicis Pharmaceutical acquisition are completed. Mr. De Silva will lead the integration planning efforts and it’s expected that a number of Medicis executives will accept positions with Valeant following the acquisition.
"The board and I appreciate the significant contributions Rajiv has made these past few years since joining me on this journey to create a new pharmaceutical operating model," said J. Michael Pearson, chairman and chief executive officer. "Under Rajiv's leadership, we have become a leader in the U.S. dermatology space and transformed our operations in Canada and Australia. And although his leadership will be missed, the company has created and developed a strong management team with Rajiv's assistance that I am confident will lead us successfully through this transition period and into the future."