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.


Explore further

Actavis buying Warner Chilcott in $8.5B deal

© 2013 The Associated Press. All rights reserved.

Citation: Salix Pharma will buy Santarus for $2.12 billion (2013, November 7) retrieved 26 June 2019 from https://medicalxpress.com/news/2013-11-salix-pharma-santarus-billion.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
 shares

Feedback to editors

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more