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Concordia International Corp. Provides Additional Disclosure in Relation to Brexit's Impact on its Business

OAKVILLE, ON, July 13, 2016 /PRNewswire/ - Concordia International Corp. ("Concordia" or the "Company") (NASDAQ: CXRX) (TSX: CXR), an international pharmaceutical company focused on legacy pharmaceutical products and orphan drugs, today provided an update to its June 28, 2016 press release relating to the potential impact on the Company's financial operations of the United Kingdom's referendum to withdraw from the European Union ("Brexit").

Following the outcome of Brexit on June 23, 2016, Concordia continues to monitor developments related to the outcome of Brexit, including the impact resulting from currency market movements.

Concordia's International Segment

The Company's International segment consists of a diversified portfolio of branded and generic products that are sold to wholesalers, hospitals and pharmacies in more than 100 countries throughout the world.

Although the Concordia International segment predominantly earns revenues in Great Britain pounds sterling (GBP), it also earns revenues in other currencies including Euros, Swedish Kronor and Australian dollars, among others.

On a consolidated basis for the first quarter of 2016, the Company's GBP-denominated revenue represented approximately 43 per cent of consolidated revenue while GBP-denominated long term debt was approximately 21 per cent of consolidated long term debt.

During the remainder of 2016, the Company expects to use the Concordia International segment's free cash flows to service its GBP long term debt and contingent earn-out consideration obligations as described in the Company's June 28, 2016 press release.

Beyond 2016, the Company will continue to assess its currency position, including hedging, in particular with respect to GBP free cash flows.

Concordia's North America and Orphan Drugs Segments

The Company's North America segment consists of a diversified product portfolio that focuses primarily on the United States pharmaceutical market. The Company's Orphan Drugs segment is intended to provide growth opportunities through the expansion into new indications and new markets for existing or acquired orphan drugs.

On a consolidated basis for the first quarter of 2016, the Company's U.S. dollar (USD)-denominated revenue represented 39 per cent of consolidated revenue while USD-denominated long term debt was approximately 79 per cent of consolidated long term debt.

During the first quarter of 2016, the Company's North America...


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