Valeant (VRX) is an unusual biopharma company because it acquires aggressively and and at times inhabits the home of its “host.”
Puns aside, the company has outgrown its current location acquired from BioVail. Valeant lacked the space for new dermatology R&D research. It also lacked space for all of the personnel it utilizes for an increasing number of acquisitions. Moving to a new location can sometimes provide a company the additional space and surroundings needed to expand and grow new product lines.
For Valeant, making the move to a small town called Laval, located in Montreal, Quebec will unequivocally help the company expand its presence in the dermatology market. The company’s new headquarters features a large research and development complex for the design and creation of new dermatology products. In 2009, the company acquired a cosmeceutical company with large research facilities named Laboratoire Dr Renaud for C$23 million ($23 million). Moving to this R&D complex should provide the space researchers and drug development teams need to create new treatments and enhance existing ones already on the market. The company is headquartered in Mississauga, Ontario for now, which is the cramped but temporary home it adopted after it merged with BioVail. Given Valeant’s merger frenzy, the company badly needs improved and larger facilities, which it will get with its move to the new state-of-the-art complex where it can place its new dermatology facility.To continue reading, click here.
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