Byk Canada becomes Altana Pharma

Germany-based Altana Group subsidiary Byk Canada, established in 1997,is to change its name to Altana Pharma, in line with its parent company's decision to establish uniformity in corporate naming as it seeks higher global recognition. Altana Pharma Canada will inherit the corporate logo, giving it a universal look and increasing visibility at a time when Altana AG has recently listed on the New York Stock Exchange (Marketletter June 3).

Commenting on the re-branding, Canadian chief executive John Suk said: "Canadian investors can now invest in Altana," adding that "the cost of discovering and bringing a new drug to market is around $800 million, so a company requires major funding resources to commit to new research. Our New York listing should help us expand our North American shareholder base."