Content about Ontario

TORONTO — In an effort to strengthen its focus on its corporate-owned Rexall and Rexall/Pharma Plus store network, Katz Group Canada has signed a definitive agreement to sell its banner pharmacy business, Drug Trading, and its franchise pharmacy business, Medicine Shoppe Canada, to McKesson for about CAD $920 million in cash.

The transaction, which is subject to customary closing conditions, including the receipt of Canadian regulatory clearances, is expected to close in the first half of 2012.

MISSISSAUGA, Ontario — Drug maker Valeant Pharmaceuticals has launched a hostile takeover bid for ISTA Pharmaceuticals, the company said.

The company announced Friday the offer of $6.50 per share for ISTA, an Irvine, Calif.-based maker of eye drugs. ISTA stock had a closing price of $3.89 per share on Thursday.

MISSISSAUGA, Ontario — The Federal Trade Commission has voted to approve Valeant's acquisitions of Dermik, a unit of French drug maker Sanofi that makes drugs for skin conditions, and Ortho Dermatologics, a division of Johnson & Johnson that also makes skin drugs.

MATTHEWS, N.C. — Family Dollar is expanding into California for the first time with the opening of four new stores in Ontario, Rialto, Riverside and Fontana. The company's aggressive growth plans also include 450 to 500 new stores to be opened in fiscal 2012.

MISSISSAUGA, Ontario — The retirement of Katz Group Canada CEO Andy Giancamilli come February will mark the rise of pharmacy veteran Frank Scorpiniti, who will take the helm of the Canadian retailer.


Scorpiniti joined Katz Group Canada in April 2011 as COO. Long regarded as one of the bright young executives in retail pharmacy, Scorpiniti now will get a chance to lead a progressive Canadian pharmacy chain, with a hot new Rexall Healthy Living concept, a national presence under Rexall and a slew of innovative programs like the employer-based Rexall Network program.


HAMILTON, Ontario — Proton-pump inhibitors may aggravate, not soothe, stomach discomfort created through chronic use of nonsteroidal anti-inflammatory drugs for such conditions as arthritis, according to research released Thursday.

In a study published in the medical journal Gastroenterology, principal investigator John Wallace reported the extent of the hard-to-detect damage caused to the small intestine only recently has been discovered through use of small video cameras swallowed like pills.

MISSISSAUGA, Ontario — Canadian drug maker Valeant Pharmaceuticals International has signed an agreement with Sanofi’s subsidiary in Canada to distribute a topical medication for osteoarthritis in the country.

Valeant said Tuesday that it had reached an agreement with Sanofi-Aventis Canada for Canadian marketing and distribution rights to Zuacta (zucapsaicin), designed for treating osteoarthritis of the knee.

MISSISSAUGA, Ontario — PepsiCo Beverages Canada has introduced the 7UP EcoGreen bottle, Canada's — and North America's — first soft drink bottle made from 100% recycled polyethylene terephthalate, or PET, plastic, the company reported Wednesday.

MISSISSAUGA, Ontario — Walmart Canada has agreed to assume leasehold interests from Target Canada in up to 39 sites that currently are operated by Zellers.

Specific locations will be identified later this fall. Terms of this transaction were not disclosed.

The sites are among up to 220 possible sites whose leasehold interests Target is acquiring as part of a real-estate transaction announced in January. In May, Target selected its initial group of 105 sites, the vast majority of which will become Target stores.

MINNEAPOLIS — Target has unveiled the first wave of the Zellers sites it will be taking over in Canada, representing 105 locations in all 10 Canadian provinces.

The vast majority of the sites will become Target stores after securing the necessary construction approval for extensive renovation. The stores will open beginning in 2013.

PITTSBURGH — GNC is ready to pull the trigger on a long-anticipated initial public offering this Friday, according to several published reports.

It’ll be the third bite of the IPO apple for the Pittsburgh-based specialty chain. But if any time is a right time, that time is now, the company suggested in its prospectus, pointing to the graying of the baby boomer, coupled with increased pursuit of healthier lifestyles, which makes for a strong investment proposition for an already-established specialty channel retailer.

MISSISSAUGA, Ontario — J. Michael Pearson has been appointed to chairman of the board at Valeant Pharmaceuticals, the drug maker said Tuesday.

Pearson, who is Valeant's CEO, will extend his contract with Valeant through February 2017, the company said.

Pearson replaces current chairman Robert Ingram, who remains on the board as an independent board director and lead director.