Salix Pharma will buy Santarus for $2.12 billion

Salix Pharmaceuticals will buy Santarus for about $2.12 billion to add to its roster of drugs.

Salix will pay $32 per share for Santarus' stock, the drugmakers said Thursday. They say the deal values Santarus at $2.6 billion.

Salix Pharmaceuticals Ltd., based in Raleigh, N.C., is paying a 38 percent premium to Santarus Inc.'s closing price of $23.22 Thursday.

The boards of both companies have approved the deal and say they expect the sale to close during the first quarter.

Salix sells Xifaxan, a treatment for traveler's diarrhea and associated with , the ulcerative colitis drug Apriso, and constipation drug Relistor.

San Diego-based Santarus, whose stock price has more than doubled this year, sells Glumetza for diabetes, Zegerid for , and Uceris for ulcerative colitis.

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Actavis buying Warner Chilcott in $8.5B deal

May 20, 2013

Actavis is buying Warner Chilcott in an all-stock deal valued at about $8.5 billion that would create the third-biggest specialty pharmaceutical company in the U.S. market.

Simponi approved for ulcerative colitis

May 15, 2013

(HealthDay)—Simponi (golimumab) injection has been approved by the U.S. Food and Drug Administration to treat adults with moderate-to-severe ulcerative colitis.

Recommended for you

Amgen misses 1Q views as higher costs cut profit

12 hours ago

Despite higher sales, biotech drugmaker Amgen's first-quarter profit fell 25 percent as production and research costs rose sharply, while the year-ago quarter enjoyed a tax benefit. The company badly missed ...

Valeant, Ackman make $45.6B Allergan bid

20 hours ago

Valeant Pharmaceuticals and activist investor Bill Ackman have unveiled details of their offer to buy Botox maker Allergan, proposing a cash-and-stock deal that could be worth about $45.6 billion.

User comments