Sec Form 4 Filing - Schiller Howard Bradley @ Valeant Pharmaceuticals International, Inc. - 2016-02-18

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Schiller Howard Bradley 2. Issuer Name and Ticker or Trading Symbol Valeant Pharmaceuticals International, Inc. [ VRX] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chairman and CEO (Last) (First) (Middle) 2150 ST. ELZEAR BLVD. WEST 3. Date of Earliest Transaction (MM/DD/YY) 02/18/2016 (Street) LAVAL, A8H7L 4A8 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock, no par value 02/18/2016 F 2,245 ( 1 ) D $ 91.45 388,630 ( 2 ) ( 3 ) D Common Stock, no par value 02/18/2016 F 51,846 ( 4 ) D $ 91.45 336,784 ( 2 ) ( 3 ) D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Schiller Howard Bradley 2150 ST. ELZEAR BLVD. WEST LAVAL, A8H7L 4A8 X Chairman and CEO Signatures by: Nicholas Zanoni for Howard Schiller 02/22/2016 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Represents the amount of shares withheld by the registrant to cover certain tax obligations due upon vesting of Matching Restricted Share Units. ( 2 )This number includes the maximum number of Common Shares that may be delivered in settlement of performance-based Restricted Share Units ("PSUs") that were previously reported on Form 4 in Table II, giving effect to the cancellation of such PSUs in respect of a potential 200,000 Common Shares. See note (3). ( 3 )The initial grant of PSUs was reported to vest based on total shareholder return ("TSR") between a price of $136.41 starting on December 1, 2014 and the average stock price for the 20 trading days starting on each measurement dates: 25% would vest on September 1, 2017, 50% on December 1, 2017 and 25% on March 1, 2018, (or 25% on September 1, 2018, 50% on December 1, 2018 and 25% on March 1, 2019, if applicable). Unit vesting is contingent on TSR performance between 10% and 30% into between one and three shares of common stock, respectively, with early vesting possible at higher TSR levels. ( 4 )Represents the amount of shares withheld to cover certain tax obligations due upon vesting of Performance Restricted Share Units.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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