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 OF SECURITIES 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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(Print or Type Responses)

1. Name and Address of Reporting Person * Blott Peter J   2. Issuer Name and Ticker or Trading Symbol VALEANT PHARMACEUTICALS INTERNATIONAL [VRX] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP, Chief Financial Officer (Last) (First) (Middle) ONE ENTERPRISE 3. Date of Earliest Transaction (Month/Day/Year) 09/28/2010 (Street) ALISO VIEJO, CA 92656 4. If Amendment, Date Original Filed(Month/Day/Year) 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 (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 09/28/2010   D   216,889 D (1) 0 D

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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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		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
Incentive Stock Option (right to buy)	$ 16.76	09/28/2010		D			23,864	(2)	06/30/2013	Common Stock	23,864	(2)	0	D
Non-qualified Stock Option (right to buy)	$ 16.76	09/28/2010		D			26,136	(2)	06/30/2013	Common Stock	26,136	(2)	0	D
Non-qualified Stock Option (right to buy)	$ 17.72	09/28/2010		D			34,000	(3)	11/01/2015	Common Stock	34,000	(3)	0	D
Non-qualified Stock Option (right to buy)	$ 18.68	09/28/2010		D			45,000	(4)	10/31/2016	Common Stock	45,000	(4)	0	D
Incentive Stock Option (right to buy)	$ 14.8	09/28/2010		D			20,268	(5)	10/30/2017	Common Stock	20,268	(5)	0	D
Non-qualified Stock Option (right to buy)	$ 14.8	09/28/2010		D			29,732	(5)	10/30/2017	Common Stock	29,732	(5)	0	D
Non-qualified Stock Option (right to buy)	$ 18.55	09/28/2010		D			13,500	(6)	11/04/2013	Common Stock	13,500	(6)	0	D
Non-qualified Stock Option (right to buy)	$ 23.92	09/28/2010		D			15,820	(7)	11/26/2014	Common Stock	15,820	(7)	0	D
Incentive Stock Option (right to buy)	$ 23.92	09/28/2010		D			4,180	(7)	11/26/2014	Common Stock	4,180	(7)	0	D
Non-qualified Stock Option (right to buy)	$ 38.47	09/28/2010		D			97,948	(8)	03/03/2017	Common Stock	97,948	(8)	0	D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Blott Peter J ONE ENTERPRISE ALISO VIEJO, CA 92656			EVP, Chief Financial Officer

Signatures

By: Michelle May For: Peter J. Blott		10/20/2010
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	216,889 restricted stock units disposed pursuant to merger agreement between issuer and, among others, Biovail Corporation in exchange for 386,258 shares of Valeant Pharmaceuticals International Inc. common stock. The fair market value of Valeant Pharmaceuticals International, Inc. on the effective date of the merger was $26.00 per share.
(2)	This option was assumed by Valeant Pharmaceuticals International, Inc. in the merger and replaced with an option to purchase 139,886 shares of Valeant Pharmaceuticals International, Inc. common stock for $5.99 per share.
(3)	This option was assumed by Valeant Pharmaceuticals International, Inc. in the merger and replaced with an option to purchase 95,124 shares of Valeant Pharmaceuticals International, Inc. common stock for $6.33 per share.
(4)	This option was assumed by Valeant Pharmaceuticals International, Inc. in the merger and replaced with an option to purchase 125,900 shares of Valeant Pharmaceuticals International, Inc. common stock for $6.68 per share.
(5)	This option was assumed by Valeant Pharmaceuticals International, Inc. in the merger and replaced with an option to purchase 139,887 shares of Valeant Pharmaceuticals International, Inc. common stock for $5.29 per share.
(6)	This option was assumed by Valeant Pharmaceuticals International, Inc. in the merger and replaced with an option to purchase 37,769 shares of Valeant Pharmaceuticals International, Inc. common stock for $6.63 per share.
(7)	This option was assumed by Valeant Pharmaceuticals International, Inc. in the merger and replaced with an option to purchase 55,953 shares of Valeant Pharmaceuticals International, Inc. common stock for $8.55 per share.
(8)	This option was assumed by Valeant Pharmaceuticals International, Inc. in the merger and replaced with an option to purchase 274,037 shares of Valeant Pharmaceuticals International, Inc. common stock for $13.75 per share.

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