Valeant Pharmaceuticals International is moving its global headquarters to the Montreal region and establishing an R&D center of excellence for consumer dermatologyin nearby Laval, Quebec.
With support from the Quebec government, Valeant hopes to set a precedent by becoming the first and only multinational pharmaceutical company to have its global headquarters in Quebec.
"Valeant has always had a strong Canadian presence and with our operations continuing to perform well, we expect to continue to increase our activities here in Canada," stated J. Michael Pearson, chairman and CEO, Valeant.
In addition to having its head office in the Montreal region, Valeant will have other important assets in the province of Quebec, with Laboratoire Dr Renaud and a newly acquired manufacturing facility being critical components of the company's emerging position as a leader in the dermatology sector.
Pearson added, “The Montreal region [will be] a strategic development center for our consumer dermatology product division.”