Navigation Links
Valeant Announces the Completion of the Privatization of Afexa Life Sciences Inc.
Date:12/12/2011

MISSISSAUGA, Ontario, Dec. 12, 2011 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. ("Valeant") (NYSE/TSX: VRX) announced today that at a special meeting of shareholders of Afexa Life Sciences Inc. ("Afexa") held earlier today in Calgary, Alberta, the shareholders of Afexa approved the amalgamation of Afexa and Valeant's wholly-owned subsidiary, 1625907 Alberta Ltd. (the "Offeror") and that the amalgamation was subsequently completed.  The amalgamation constitutes the subsequent acquisition transaction following the offer from the Offeror to acquire all the issued and outstanding common shares of Afexa (the "Common Shares") and results in the privatization of Afexa.

As described in the management information circular of Afexa dated October 31, 2011 and pursuant to the terms of the amalgamation agreement between Afexa and the Offeror, each issued and outstanding Common Share, other than those held by the Offeror, have been exchanged for one redeemable preferred share of the amalgamated corporation ("Amalco") which shares have been immediately redeemed at a price of C$0.85 per share (the "Redemption Price") by Amalco. As a result of the amalgamation, Valeant now owns all of the outstanding common shares of Amalco. All shareholders, other than the Offeror, will be paid, upon delivery of the letter of transmittal and the certificates representing their Common Shares, a cash amount equal to the Redemption Price.

Applications will be filed to de-list the Common Shares from trading on the Toronto Stock Exchange and for Afexa to cease to be a reporting issuer.

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 www.valeant.com.

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, except as required by applicable securities laws.

(Logo: http://photos.prnewswire.com/prnh/20101025/LA87217LOGO)

Contact Information:
Laurie W. Little
949-461-6002
laurie.little@valeant.com


'/>"/>
SOURCE Valeant Pharmaceuticals International, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Valeant Pharmaceuticals Receives Approval From FTC in Connection With Acquisition of Ortho Dermatologics and Dermik
2. Valeant Pharmaceuticals to Syndicate Incremental Term Loans
3. Valeant Pharmaceuticals Appoints Howard B. Schiller as Chief Financial Officer
4. Valeant Announces Take-Up of Additional Afexa Shares and Special Meeting of Shareholders of Afexa to Approve Its Privatization
5. Valeant Pharmaceuticals to Announce 2011 Third Quarter Results on November 3, 2011
6. Valeant Pharmaceuticals Announces Approval Of Colesevelam Hydrochloride In Canada
7. Valeant Pharmaceuticals Intends to Raise Offer for Afexa Life Sciences Inc. to $0.85 per Share
8. Valeant Pharmaceuticals to Refinance Senior Secured Credit Facilities
9. Valeant Pharmaceuticals Announces Mailing of Offer and Take-Over Bid Circular to Shareholders of Afexa
10. Valeant Pharmaceuticals to Present at Industry Conferences
11. Valeant Pharmaceuticals Announces Increase to Monetary Limit Under Its Securities Repurchase Program
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... Research and Markets has announced the addition of ... report to their offering. ... kidney failure, it replaces the function of kidneys by removing ... thus the treatment helps to keep the patient body,s electrolytes ... Increasing number of ESRD patients & substantial healthcare expenditure ...
(Date:6/23/2016)... Research and Markets has announced the addition of ... Forecast to 2022" report to their offering. ... date financial data derived from varied research sources to present ... impact on the market during the next five years, including ... sub markets, regional and country level analysis. The report provides ...
(Date:6/23/2016)... Ill. and INDIANAPOLIS , ... students receiving a Lilly Diabetes Tomorrow,s Leaders Scholarship is ... 2016 scholarship winners, announced today online at www.diabetesscholars.org ... let type 1 diabetes stand in the way of ... has supported the Foundation,s scholarship program since 2012, and ...
Breaking Medicine Technology:
(Date:6/27/2016)... ... June 27, 2016 , ... TherapySites, the ... affiliation with Tennessee Counseling Association. This new relationship allows TherapySites to ... Counseling Association, adding exclusive benefits and promotional offers. , "TCA is extremely excited ...
(Date:6/27/2016)... ... June 27, 2016 , ... TopConsumerReviews.com recently awarded their highest five-star ... , Millions of individuals in the United States and Canada wear eyeglasses. Once considered ... both correct vision and make a fashion statement. Even celebrities use glasses as a ...
(Date:6/26/2016)... ... June 26, 2016 , ... Pixel Film Studios Released ProSlice Levels, ... editors can give their videos a whole new perspective by using the title ... Pixel Film Studios. , ProSlice Levels contains over 30 Different presets to choose ...
(Date:6/26/2016)... ... June 26, 2016 , ... Many women ... diagnosed with endometriosis. These women need a treatment plan to not only alleviate ... that can help for preservation of fertility and ultimately achieving a pregnancy. The ...
(Date:6/25/2016)... ... ... temporary closing of Bruton Memorial Library on June 21 due to a possible lice infestation, ... aspect of head lice: the parasite’s ability to live away from a human host, and ... necessary one in the event that lice have simply gotten out of control. , As ...
Breaking Medicine News(10 mins):