Please login to the form below

Not currently logged in
Email:
Password:

Valeant to buy Afexa

Canada-based drugmaker Valeant Pharmaceuticals is to purchase Afexa Life Sciences for around C$76m in the latest of a series of major acquisitions

Canada-based drugmaker Valeant Pharmaceuticals is to purchase Afexa Life Sciences for around C$76m.

It is the latest in a series of major acquisitions during 2011 that has seen Valeant take ownership of Lithuanian speciality firm AB Sanitas, Swiss company PharmaSwiss SA and Sanofi's dermatology unit, Dermik.

The company was also involved in a hostile takeover bid for Cephalon, and recent reports have suggested Valeant is keen to acquire Swedish pharmaceutical firm Meda as well as Medicis Pharmaceutical.

The Afexa acquisition will see Valeant take control of a company with annual revenues of around C$40m and gain the rights to brands including Cold-FX and Coldsore-FX.

J Michael Pearson, chairman and CEO of Valeant, said the purchase would deliver "significant benefits" to the company's customers, and would develop the company's over-the-counter (OTC) profile.

Pearson added: "Afexa's product line, combined with our portfolio from VitalScience, including dermaglow, and our recent Canadian launch of CeraVe, will provide the critical mass we need in the OTC market and should provide Valeant Canada with another platform for growth."

Full details of the offer will be mailed to company shareholders by September 9, 2011.

31st August 2011

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
Attigo (part of the Mednet Group)

We are socially intuitive. Attigo deliver inspiring creative healthcare communications, whilst leading the way as partner of choice for socially-conscious...

Latest intelligence

segmentation_pie_thumb.jpg
If you’re not thinking segmentation, you’re not thinking
Having a background in market research I’ve been lucky to work on a number of customer segmentations in my time but working in creative communications it is still too rare...
Improving Outcomes in the Treatment of Opioid Dependence Highlights Report
The 16th annual ‘Improving Outcomes in the Treatment of Opioid Dependence’ (IOTOD)conference took place at the Hilton Madrid Airport hotel on 15–16 May 2018....
Londonvelophobia (fear of cycling in London) – debunked
...

Infographics