Valeant Pharmaceuticals to Acquire Afexa Life Sciences for $77.6 Million

Canada’s Valeant Pharmaceuticals International Inc. Aug. 30 announced that it has agreed to acquire another Canadian firm, Afexa Life Sciences Inc., for approximately $77.6 million.

Afexa, a health-science company headquartered in Alberta, currently markets several consumer brands, such as Cold-FX and Coldsore-FX, and has annual revenues of approximately $40.8 million, Mississauga, Ontario-based Valeant said.

The board of directors of Afexa has approved the agreement and unanimously recommends that Afexa’s shareholders tender their common shares, Valeant said. The Afexa board of directors has received a fairness opinion from its financial adviser stating that the consideration to be received is fair from ...