Below is an instruction that describes a task. Write a response that appropriately completes the request.

### Instruction:
identify whether following news is true or not

Input:
Valeant to pay new CEO Papa base salary of $1.5 million;(Reuters) - Drugmaker Valeant Pharmaceuticals International Inc’s (VRX.TO) new chief executive, Joseph Papa, will receive a base salary of $1.5 million, the company said in a filing on Wednesday. Valeant said on Monday former Perrigo Co Plc (PRGO.N) head Papa would replace Michael Pearson as its CEO. Papa will also receive a cash payment of $8 million to make up for the equity-based compensation he forfeited in connection with the termination of his employment with Perrigo.  Valeant said in March Pearson was leaving the company, just three weeks after returning from a two-month medical leave.  Pearson's base salary for full-year 2014 was $2 million and his total compensation amounted to $10.3 million, according to a regulatory filing. (1.usa.gov/1aapxiM);April 27, 2016

### Response:
True news

### End