Valeant Names Tyson as President and CEO

Valeant Pharmaceuticals International of Costa Mesa said it named Timothy C. Tyson president and chief executive on Jan 1. He had been president and chief operating officer. He succeeds former CEO Robert W. O’Leary, who will continue as chairman.

Valeant Pharmaceuticals International, formerly ICN Pharmaceuticals, derives much of its revenue from royalties on ribavirin, a drug for hepatitis C sold by Schering-Plough Corp.

The company’s shares fell 24 cents to $25.45 on the New York Stock Exchange.

-- Denise Gellene