The Globe and Mail reports in its Friday edition that Apotex Health Corp. has filed to go public on the Toronto Stock Exchange in an offering that is expected to establish the generic drug maker as Canada's most valuable life-sciences company. The Globe's Sean Silcoff writes that the Toronto-based company is expected to raise between $500-million and $1-billion in the deal, an unnamed source said. The preliminary prospectus, filed publicly with regulators Thursday, doesn't disclose how much the company intends to raise; that will be revealed in subsequent filings after it canvasses investor interest and books orders. Apotex plans to use net proceeds from the initial public offering to repay indebtedness. It added the debt last year as part of a recapitalization in which it paid $1.1-billion in dividends to certain shareholders. With comparable drug companies trading at eight to 12 times enterprise value to operating earnings, underwriters hope that Apotex, which generated $1.3-billion in adjusted operating earnings last year on $3.5-billion of sales, can achieve an equity valuation exceeding $10-billion, the source said. The offering is being co-led by underwriters RBC Capital Markets, TD Securities and Scotiabank.