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