Navigation Links
Valeant Announces Take-Up of Additional Afexa Shares and Special Meeting of Shareholders of Afexa to Approve Its Privatization

MISSISSAUGA, Ontario, Canada, Oct. 27, 2011 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. ("Valeant") (NYSE/TSX: VRX) announced today that a total of 8,523,517 additional common shares of Afexa Life Sciences Inc. ("Afexa") were validly deposited at the expiry time of the offer by its wholly-owned subsidiary 1625907 Alberta Ltd. (the "Offeror") to acquire all outstanding common shares of Afexa. As all of the conditions to the offer have been satisfied, the Offeror has taken up all of the deposited common shares. Afexa's shareholders who tendered to the offer will receive C$0.85 per share in cash which will be paid to Afexa's shareholders in accordance with the terms of the offer.

Accordingly, after giving effect to the take-up of deposited common shares on October 17, 2011 and October 27, 2011, the Offeror now holds approximately 81.6% of the outstanding common shares of Afexa on a fully-diluted basis.

The offer will not be further extended. The votes attached to the Afexa shares held by the Offeror are sufficient to approve a subsequent acquisition transaction which will result in the privatization of Afexa and the remaining shareholders of Afexa receiving C$0.85 per Afexa share.  Afexa will file on SEDAR a notice of special meeting of shareholders of Afexa to be held in December 2011 in order to approve the subsequent acquisition transaction.

Following the subsequent acquisition transaction, Afexa's common shares will be delisted from the Toronto Stock Exchange and application will be made to the relevant securities regulatory authorities for Afexa to cease to be a reporting issuer.

RBC Capital Markets is acting as financial advisor to Valeant and Stikeman Elliott LLP is acting as legal counsel to Valeant.

About Valeant Pharmaceuticals International, Inc.

Valeant Pharmaceuticals International, Inc. is a multi-national specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics. More information about Valeant Pharmaceuticals International, Inc. can be found at

Forward Looking Information

To the extent any statements made in this document contain information that is not historical, these statements are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and may be forward-looking information as defined under applicable Canadian securities legislation (collectively, "forward-looking statements").

Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Valeant's most recent annual or quarterly report filed with the SEC and risks and uncertainties as detailed from time to time in Valeant's filings with the SEC and the Canadian Securities Administrators, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Valeant undertakes no obligation to update any of these forward-looking statements to reflect the events or circumstances after the date of this press release or to reflect actual outcomes.


Contact Information:
Laurie W. Little

SOURCE Valeant Pharmaceuticals International, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Valeant Pharmaceuticals to Announce 2011 Third Quarter Results on November 3, 2011
2. Valeant Pharmaceuticals Announces Approval Of Colesevelam Hydrochloride In Canada
3. Valeant Pharmaceuticals Intends to Raise Offer for Afexa Life Sciences Inc. to $0.85 per Share
4. Valeant Pharmaceuticals to Refinance Senior Secured Credit Facilities
5. Valeant Pharmaceuticals Announces Mailing of Offer and Take-Over Bid Circular to Shareholders of Afexa
6. Valeant Pharmaceuticals to Present at Industry Conferences
7. Valeant Pharmaceuticals Announces Increase to Monetary Limit Under Its Securities Repurchase Program
8. Valeant Pharmaceuticals Files a Notice of Intention to Make a Normal Course Issuer Bid
9. Valeant Pharmaceuticals Completes Acquisition of Sanitas Group
10. Valeant Pharmaceuticals Announces Resignation of Michael Van Every From Valeants Board of Directors
11. Valeant Pharmaceuticals Reports 2011 Second Quarter Financial Results
Post Your Comments:
(Date:11/30/2015)... 2015 Booth #4303 – The Imaging Components business ... a broader array of products in a new booth (#4303) ... North America in Chicago ... feature X-ray components "At the Heart of Imaging." Products will ... from Varian,s Claymount brand, and computer-aided diagnostic software from MeVis ...
(Date:11/30/2015)... NAMUR , Belgium , Nov. 30, ... life sciences company focused on developing blood-based diagnostic tests for ... announced the Company will present at the LD Micro Conference, ... Los Angeles, CA. Attending from VolitionRx will ... and Scott Powell , Vice President of Investor Relations. ...
(Date:11/30/2015)... and REHOVOT, Israel , ... specialty pharmaceutical company focused on acquiring and developing innovative ... announced the appointment of Keith A. Katkin ... Gregory J. Flesher , chief executive officer for ... building successful organizations.  As chairman, he will be able ...
Breaking Medicine Technology:
(Date:11/30/2015)... ... , ... According to an article published November 13th by People ... to show her Instagram followers that the praise that they were bestowing on her ... she didn’t “want to mislead any mommy's who just had babies and are stressing,” ...
(Date:11/30/2015)... ... ... Cycling, running, and walking are regular Sunday activities for many South Floridians, ... 2016. , That’s when the 7th annual ANF Group Tour de Broward will ... families at Joe DiMaggio Children’s Hospital. , The community fundraiser, sponsored by ...
(Date:11/30/2015)... ... November 30, 2015 , ... ... component of bacteria could be effective in fighting methicillin-resistant Staphylococcus aureus (MRSA), one ... , Their study showed that small molecule analogs that target the functions of ...
(Date:11/30/2015)... ... November 30, 2015 , ... Using a combination of two blood sugar ... and adults, according to a new study by researchers at the School of Public ... and Adults: Using Combinations of Blood Glucose Tests ,” published in Frontiers in Public ...
(Date:11/30/2015)... Pittsburgh, PA (PRWEB) , ... November 30, 2015 ... ... according to a new study by UPMC and KingMed Diagnostics ... UPMC over three years found that consultation with UPMC pathologists resulted in significantly ...
Breaking Medicine News(10 mins):