Apotex expected to fetch $10-billion valuation as drugmaker files to go public on TSX
Apotex Health Corp. has filed for an initial public offering on the Toronto Stock Exchange, aiming for a valuation exceeding $10 billion. The Canadian generic drug maker is expected to raise between $500 million and $1 billion from the offering. Proceeds will be used to repay existing debt incurred during a recapitalization effort last year.
- ▪Apotex is expected to become Canada's most valuable life-sciences company with a valuation over $10 billion.
- ▪The company generated $1.3 billion in adjusted operating earnings last year on $3.5 billion of sales.
- ▪The IPO aims to raise between $500 million and $1 billion to repay indebtedness under its credit facilities.
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Open this photo in gallery:FDA-related holdups, court documents say, forced Apotex to repeat and recertify its studies, delaying the journey of the drugs to market.Peter Power/The Globe and MailShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountApotex Health Corp. has filed to go public on the Toronto Stock Exchange in an offering that is expected to establish the Canadian generic drug maker as Canada’s most valuable life-sciences company.Apotex is expected to raise between $500-million and $1-billion in in the deal, said a source familiar with the matter.
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