In November of 2006, the management of Bioniche Pharma Group's Canadian operations, entered into an agreement to obtain the exclusive distribution rights to Bioniche Pharma's entire line of Canadian Products. Alveda Pharmaceuticals Inc. has been the result of this agreement.

Prior to the acquisition, Bioniche Pharma Canada had been providing 8 products to the Canadian market, including 3 medical devices, 4 drugs, and a lab supply product. Focused on the Canadian market, Alveda has introduced a number of products in its first years of operation. Consequently, the company currently distributes over 30 generic and branded injectable products within Canada, and will launch several more in the near future.

Alveda Pharma continues to actively seek new business ventures and enter into agreements that will actively benefit hospitals, patients and doctors throughout the country.