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Business
Valeant Will Add Salix To Roster
by Lisa M. Jarvis
March 2, 2015
| A version of this story appeared in
Volume 93, Issue 9
Specialty pharmaceuticals firm Valeant will pay $14.5 billion, including debt, to acquire Raleigh, N.C.-based Salix Pharmaceuticals. The deal, the largest in a series of purchases for Valeant, adds a portfolio of gastrointestinal treatments and an experienced sales team. Valeant expects to carve $500 million in annual costs out of the combined company by cutting R&D and corporate overhead. Salix’s specialty sales force and hospital reimbursement teams will be spared. Valeant operates with a minuscule R&D budget, focusing instead on growth through acquisition.
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