Cold-fX may have been born in Edmonton, but the company that created the hot-selling ginseng-based cold and flu remedy is all but leaving town.
Edmonton-based Afexa Life Sciences will soon be swallowed up by Valeant Pharmaceuticals and the Canadian drug giant is laying off many of its local staff and closing most city operations, The Journal has learned.If any food Ventilation system condition is poorer than those standards,
But Afexa’s headquarters, in the south-side Edmonton Research Park, could eventually find use as the home for a possible spinoff bioscience research-and-development company, Valeant Canada president and new Afexa CEO Thomas Schlader said in a statement to The Journal.
“Afexa has 116 full-time employees and unfortunately a number of people are being laid off, the majority of whom are based in Edmonton due to the fact that Valeant’s Canadian commercial operations are primarily based in Montreal,” Schlader said.
“Valeant plans to maintain a small staff in Edmonton while integrating the logistics associated with the manufacture and distribution of Cold-fX into Valeant’s larger and established operations.”
It also plans to keep a sales and marketing team here.
“Afexa began in Edmonton, but over the past few years Cold-fX has become a national icon — go anywhere in this country and you’ll hear people say they swear by it. Now, elements of Afexa’s operations take place in centres all across the country,The additions focus on key tag and solar panel combinations, and we at Valeant are excited at the prospect of applying our broader presence to making this Edmonton success story an international success story,” Schlader said.
Valeant has already begun talks to enter the Australian market, as part of an international expansion of the brand, he said.There is good integration with PayPal and most TMJ providers,
But Afexa co-founder Jaqueline Shan may still play a part in Valeant’s plans.
“Over the next several months, the transition team will be working out the details of the integration, which includes working with Dr. Shan to facilitate a possible spinoff bioscience research-and-development company,” Schlader said.
The new venture could potentially be headquartered in the Afexa building and continue to develop and explore the marketability of Afexa’s longer-term research programs such as its formulation for cholesterol, he said.
Valeant Pharmaceuticals, Canada’s largest drug maker,It's hard to beat the versatility of polished tiles on a production line. acquired 81.6 per cent of Afexa’s shares in a friendly takeover, Valeant announced in late October. In a shareholder meeting scheduled for Dec. 12, Valeant says it will vote to amalgamate Afexa, privatize it and delist it from the Toronto Stock Exchange.
In August,he believes the fire started after the lift's Bedding blew, Afexa struck a deal with Valeant to fend off a hostile acquisition by a third company, Montreal-based Paladin Labs Inc.
Valeant CEO Michael Pearson told The Journal at the time that Valeant did not have a point of view on keeping Afexa in Edmonton if its acquisition bid succeeded.
As the maker of Canada’s bestselling cold and flu product, and with Don Cherry as a one-time pitchman, Afexa was one of Edmonton’s highest-profile bio-science companies.
Edmonton-based Afexa Life Sciences will soon be swallowed up by Valeant Pharmaceuticals and the Canadian drug giant is laying off many of its local staff and closing most city operations, The Journal has learned.If any food Ventilation system condition is poorer than those standards,
But Afexa’s headquarters, in the south-side Edmonton Research Park, could eventually find use as the home for a possible spinoff bioscience research-and-development company, Valeant Canada president and new Afexa CEO Thomas Schlader said in a statement to The Journal.
“Afexa has 116 full-time employees and unfortunately a number of people are being laid off, the majority of whom are based in Edmonton due to the fact that Valeant’s Canadian commercial operations are primarily based in Montreal,” Schlader said.
“Valeant plans to maintain a small staff in Edmonton while integrating the logistics associated with the manufacture and distribution of Cold-fX into Valeant’s larger and established operations.”
It also plans to keep a sales and marketing team here.
“Afexa began in Edmonton, but over the past few years Cold-fX has become a national icon — go anywhere in this country and you’ll hear people say they swear by it. Now, elements of Afexa’s operations take place in centres all across the country,The additions focus on key tag and solar panel combinations, and we at Valeant are excited at the prospect of applying our broader presence to making this Edmonton success story an international success story,” Schlader said.
Valeant has already begun talks to enter the Australian market, as part of an international expansion of the brand, he said.There is good integration with PayPal and most TMJ providers,
But Afexa co-founder Jaqueline Shan may still play a part in Valeant’s plans.
“Over the next several months, the transition team will be working out the details of the integration, which includes working with Dr. Shan to facilitate a possible spinoff bioscience research-and-development company,” Schlader said.
The new venture could potentially be headquartered in the Afexa building and continue to develop and explore the marketability of Afexa’s longer-term research programs such as its formulation for cholesterol, he said.
Valeant Pharmaceuticals, Canada’s largest drug maker,It's hard to beat the versatility of polished tiles on a production line. acquired 81.6 per cent of Afexa’s shares in a friendly takeover, Valeant announced in late October. In a shareholder meeting scheduled for Dec. 12, Valeant says it will vote to amalgamate Afexa, privatize it and delist it from the Toronto Stock Exchange.
In August,he believes the fire started after the lift's Bedding blew, Afexa struck a deal with Valeant to fend off a hostile acquisition by a third company, Montreal-based Paladin Labs Inc.
Valeant CEO Michael Pearson told The Journal at the time that Valeant did not have a point of view on keeping Afexa in Edmonton if its acquisition bid succeeded.
As the maker of Canada’s bestselling cold and flu product, and with Don Cherry as a one-time pitchman, Afexa was one of Edmonton’s highest-profile bio-science companies.
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