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Cold-fx. (Kevin Van Paassen/Kevin Van Paassen/The Globe and Mail)
Cold-fx. (Kevin Van Paassen/Kevin Van Paassen/The Globe and Mail)

Valeant takes control of Afexa, extends bid Add to ...

Valeant Pharmaceuticals International Inc. says it has acquired nearly 81 million shares of Cold-FX maker Afexa Life Sciences Inc., or nearly 74 per cent of the Edmonton drug maker, under a friendly takeover offer.

Valeant said Tuesday it will extend its bid to Oct. 27 to acquire the rest of the shares and privatize Afexa.

More related to this story

The Toronto-area drug maker, formerly known as Biovail, wants to buy Afexa to expand the company's flu treatment sales globally.

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