Supplier News Breaks Archives
Valeant, Biovail wrap up merger
September 28th, 2010
MISSISSAUGA, Ontario – Valeant Pharmaceuticals International Inc. announced that it has completed its merger with Biovail Corp. after shareholders of both companies approved the agreement.
The specialty pharmaceutical makers unveiled the deal to merge in late June.
The combined company is called Valeant Pharmaceuticals International Inc. Under the terms of the merger agreement, Valeant stockholders will receive, for each share of Valeant common stock outstanding immediately prior to the merger, about 1.79 Biovail common shares.
Valeant said the combined company will trade under the symbol "VRX" on the New York Stock Exchange and the Toronto stock exchange.
Valeant Pharmaceuticals develops, manufactures and markets a broad range of pharmaceutical products, primarily in the areas of neurology, dermatology and branded generics.