RALEIGH, N.C.–(BUSINESS WIRE)–Red Hat, Inc. (NYSE: RHT), the world’s leading provider of open source
solutions, today announced that president and CEO Jim Whitehurst will
deliver the keynote presentation at the North Carolina Technology
Association’s (NCTA) Thought Leaders series.

Whitehurst’s session – The Open Organization: Igniting Passion and
Performance – will be based on his recent book of the same name, and
focus on how senior leaders can reinvent their companies to compete and
succeed in today’s fast-moving economy. He will touch on key themes that
businesses and executives are facing everyday, including the need to
build a creative, energized culture based on transparency, employee
engagement, and a commitment to innovation.

Whitehurst’s book dives into each of these topics by illustrating how
businesses can apply an open source development model to their
management practices. Doing so can help them create more open, flexible,
agile – and, ultimately, successful – organizations. The Open
Organization: Igniting Passion and Performance is now available from Amazon,
Barnes
Noble, and other retailers.

Whitehurst will be speaking August 27, 2015, from 8:00 – 10:30 a.m. ET,
at PNC Arena in Raleigh, N.C. Visit the NCTA
website for more information.

About Red Hat, Inc.

Red Hat is the world’s leading provider of open source software
solutions, using a community-powered approach to reliable and
high-performing cloud, Linux, middleware, storage and virtualization
technologies. Red Hat also offers award-winning support, training, and
consulting services. As a connective hub in a global network of
enterprises, partners, and open source communities, Red Hat helps create
relevant, innovative technologies that liberate resources for growth and
prepare customers for the future of IT. Learn more at http://www.redhat.com.

Forward-Looking Statements

Certain statements contained in this press release may constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements
provide current expectations of future events based on certain
assumptions and include any statement that does not directly relate to
any historical or current fact. Actual results may differ materially
from those indicated by such forward-looking statements as a result of
various important factors, including: risks related to the ability of
the Company to compete effectively; the ability to deliver and stimulate
demand for new products and technological innovations on a timely basis;
delays or reductions in information technology spending; the effects of
industry consolidation; the integration of acquisitions and the ability
to market successfully acquired technologies and products; uncertainty
and adverse results in litigation and related settlements; the inability
to adequately protect Company intellectual property and the potential
for infringement or breach of license claims of or relating to third
party intellectual property; risks related to data and information
security vulnerabilities; ineffective management of, and control over,
the Company’s growth and international operations; fluctuations in
exchange rates; and changes in and a dependence on key personnel, as
well as other factors contained in our most recent Quarterly Report on
Form 10-Q (copies of which may be accessed through the Securities and
Exchange Commission’s website at http://www.sec.gov),
including those found therein under the captions “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and Results
of Operations”. In addition to these factors, actual future performance,
outcomes, and results may differ materially because of more general
factors including (without limitation) general industry and market
conditions and growth rates, economic and political conditions,
governmental and public policy changes and the impact of natural
disasters such as earthquakes and floods. The forward-looking statements
included in this press release represent the Company’s views as of the
date of this press release and these views could change. However, while
the Company may elect to update these forward-looking statements at some
point in the future, the Company specifically disclaims any obligation
to do so. These forward-looking statements should not be relied upon as
representing the Company’s views as of any date subsequent to the date
of this press release.

Red Hat and Red Hat Enterprise Linux are trademarks of Red Hat, Inc.,
registered in the U.S. and other countries. Linux® is the
registered trademark of Linus Torvalds in the U.S. and other countries.

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LAVAL, Quebec and RALEIGH, N.C., Aug. 20, 2015 /PRNewswire/ — Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) and Sprout Pharmaceuticals, Inc. today announced that they have entered into a definitive agreement under which a wholly-owned subsidiary of Valeant will acquire Sprout, on a debt-free basis, for approximately $1 billion in cash, plus a share of future profits based upon the achievement of certain milestones. 

On Tuesday, August 18, 2015, Sprout received approval from the U.S. Food and Drug Administration (FDA) on its New Drug Application (NDA) for flibanserin, which will be marketed as Addyi in the U.S.  Addyi has demonstrated improvements in desire for sex, reducing distress from the loss of sexual desire and increasing the number of satisfying sexual events.  Sprout also has global rights for flibanserin. Valeant will leverage its global scale to register flibanserin internationally.

Sprout is passionate about women’s sexual health and has focused solely on the delivery of a treatment option for the unmet need of premenopausal women with acquired, generalized Hypoactive Sexual Desire Disorder (HSDD) as characterized by low sexual desire that causes marked distress or interpersonal difficulty and is not due to a co-existing medical or psychiatric condition, problems within the relationship, or the effects of a medication or other drug substance.  

Addyi is not indicated for use in postmenopausal women or men or to enhance sexual function. Addyi was approved with a Boxed Warning. Use of Addyi with alcohol increases the risk of severe hypotension and syncope; therefore, alcohol use is contraindicated.  Severe hypotension and syncope occurs when Addyi is used with moderate or strong CYP3A4 inhibitors or in patients with hepatic impairment; therefore use of Addyi in patients with hepatic impairment is also contraindicated.  Hypotension, syncope and central nervous system (CNS) depression can occur with Addyi alone. The most common adverse reactions are dizziness, somnolence, nausea, fatigue, insomnia and dry mouth.

Valeant expects Addyi to be available in the United States in the fourth quarter of 2015 through prescribers and pharmacies that have been certified under the U.S. FDA’s comprehensive Risk Evaluation and Mitigation Strategy (REMS) program to assure safe use. Following the closing of the transaction, Valeant, under the REMS, will offer physicians and pharmacists the required certification programs for prescribing and dispensing Addyi. 

Following the closing of the acquisition, Sprout will remain headquartered in Raleigh, N.C. and become a division of Valeant. Cindy Whitehead, Chief Executive Officer of Sprout, will join Valeant to lead this division dedicated to the introduction and global commercialization of Addyi, reporting to Anne Whitaker, Executive Vice President and Company Group Chairman.

Valeant’s Chairman and Chief Executive Officer, J. Michael Pearson, said, “Delivering a first-ever treatment for a commonly reported form of female sexual dysfunction gives us the perfect opportunity to establish a new portfolio of important medications that uniquely impact women. We applaud the efforts of the Sprout team to address this important area of unmet need and look forward to working with them to bring the benefits of Addyi to additional markets around the world.” 

Sprout Chief Executive Officer, Cindy Whitehead, said, “I am extremely proud of the commitment and passion of our 34 employees who have been mission driven to get to this breakthrough first for women.  This partnership with Valeant allows us the capacity to now ensure broader, more affordable access to all the women who have been waiting for this treatment.  Beyond building this in the United States, Valeant also offers us a global footprint that could eventually bring Addyi to women across the globe.”

“The Valeant team is excited to be a part of the launch of this critically important treatment for women, and I am personally delighted to welcome Cindy and her colleagues at Sprout to Valeant,” added Anne Whitaker, Executive Vice President and Company Group Chairman.  “The Sprout team, along with the healthcare providers involved in the Addyi pivotal clinical trials, has delivered on its promise to provide access to a safe and effective treatment for a condition that affects millions of women.”

Under terms of the acquisition agreement, Valeant will pay approximately $500 million, subject to customary purchase price adjustments, upon the closing of the transaction and an additional payment in the amount of $500 million, payable in the first quarter of 2016, plus a share of future profits based upon the achievement of certain milestones.  Valeant expects no impact to 2015 earnings, and moderate accretion to 2016 earnings.

The transaction is subject to customary closing conditions and regulatory approval, including Hart-Scott-Rodino antitrust clearance.  The transaction is expected to close in the third quarter of 2015.

Skadden, Arps, Slate, Meagher Flom LLP served as Valeant’s legal counsel.  Sprout was advised by Sullivan Cromwell LLP as its legal counsel and Perella Weinberg Partners as its financial advisor.

About Valeant 

Valeant Pharmaceuticals International, Inc. (NYSE/TSX:VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, gastrointestinal disorder, eye health, neurology and branded generics. More information about Valeant can be found at www.valeant.com.

About Addyi

Addyi is a novel, non-hormonal oral pill taken once daily at bedtime. Flibanserin has been studied in over 11,000 women. For premenopausal women with HSDD, Addyi has demonstrated improvements in desire for sex, reducing distress from the loss of sexual desire and increasing the number of satisfying sexual events. The most common adverse events among patients treated with Addyi were dizziness, somnolence, nausea, fatigue, insomnia and dry mouth. Hypotension, syncope, and central nervous system (CNS) depression were seen with Addyi alone and more frequently when Addyi was taken in the morning and when co-administered with alcohol or certain other drugs. Alcohol consumption is contraindicated for women taking Addyi. With the FDA, Sprout Pharmaceuticals developed a comprehensive Risk Evaluation and Mitigation Strategy (REMS) program, including prescriber and pharmacist certification, to ensure safe use of Addyi.

About Sprout Pharmaceuticals

Sprout Pharmaceuticals, Inc. is passionate about women’s sexual health. With a breakthrough concept for women, the company “sprouted” out of Slate Pharmaceuticals in 2011. Based in Raleigh, N.C., the company is focused solely on the delivery of a treatment option for women with HSDD. For more information or the latest news about Sprout Pharmaceuticals, visit www.sproutpharma.com or call 1-844-PINK-PILL (1-844-746-5745).

Forward Looking Statements

This press release may contain forward-looking statements, including, but not limited to, statements regarding the acquisition of Sprout Pharmaceuticals, including the anticipated timing of the closing of such acquisition, the anticipated timing of the launch of the Addyi product and Valeant’s marketing and sales plans.  Forward-looking statements may generally be identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “will,” “believes,” “estimates,” “potential,” “target,” or “continue” and variations or similar expressions. These statements are based upon the current expectations and beliefs of management of Valeant and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include the risks and uncertainties discussed in Valeant’s most recent annual or quarterly report and detailed from time to time in Valeant’s other filings with the Securities and Exchange Commission (the “SEC”) and the Canadian Securities Administrators, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof.  Valeant undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes, except as required by law.

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KITTY HAWK, NC. (WVEC) — Tourism spending surged to more than $1 billion in Dare County last year.

The county made it into the top five counties for highest tourist revenue, raking in a record $1.2 billion in 2014, according to marketing agency Visit North Carolina.

This is a seven percent increase over 2013, according to a release Governor McCrory’s office.

“The county and its towns have worked hard in building this into a premier destination for the east coast,” said Bob Woodard, chairman of the county commission.

Woodard and other leaders continue their fight to keep the money vacationers spend in the county.

He has traveled back and forth to Raleigh this summer lobbying against a bill that would redistribute sales tax revenue to areas based on population, not where the money was spent.

The bill, which has passed the state senate, is designed to help rural communities. But Woodard said counties like Dare should not be punished for their success.

“You don’t take away from income producing counties,” said Woodard. “They need that for their infrastructure, they need it for their EMS, they need it for their fire, they need it for police, they need it for all their public services we provide.”

Gov. McCrory has threatened to veto the bill if passed.

Dare County sees about 300,000 visitors each year during the peak tourist season, Woodard said.

It’s too soon to know how successful this year will be, and whether recent shark scares will have a major impact.