Pediapharm Inc. shareholders approved a change in the company's name to Medexus Pharmaceuticals Inc. on Dec. 12.

Shareholders also approved a 1-for-15 share consolidation of the company's stock which will begin trading on a post-consolidation and post-name change basis on the TSX Venture Exchange under the MDP symbol in the near future.

The company decided to change its name following its acquisitions of Medexus Inc., which is focused on rheumatology, women's health and dermatology, and Medac Pharma Inc., which sells rheumatoid arthritis therapy Rasuvo.

Canada's Medexus will operate as a specialty pharmaceutical company.