Issue Date: May 5, 2014
Forest Labs Will Acquire Furiex
Forest Laboratories will pay up to $1.5 billion to purchase Furiex Pharmaceuticals of Morrisville, N.C. Furiex expects to apply soon for FDA approval for its lead product, eluxadoline, a treatment for irritable bowel syndrome. Forest has agreed to sell Furiex’s royalties on two other drugs to Royalty Pharma for $415 million, provided the deal goes through. Forest expanded its gastroenterology business earlier this year by acquiring the specialty pharma firm Aptalis for $2.9 billion. Meanwhile, the generic drug maker Actavis is in the process of acquiring Forest for $25 billion.
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