Salix Adds to Gastroenterology Franchise with US$2.6 B Santarus Acquisition

Abstract

Gastroenterology specialist Salix Pharmaceuticals has agreed to acquire Santarus in an all-cash transaction that values the company at approximately US$2.6 B. The acquisition will strengthen Salix’s commercial presence in gastroenterology, providing it with access to the primary care market and an ulcerative colitis drug with high growth potential. It will also provide diversification into new therapy areas, adding products such as Glumetza® (metformin extended-release) for type 2 diabetes and Fenoglide® (fenofibrate) for high cholesterol. The combined company will have estimated 2013 pro forma revenue of US$1.3 B from a portfolio of 22 marketed products.