Forest Laboratories is acquiring N.J.-based drugmaker Aptalis from global investment firm TPG in a deal worth $2.9 billion, the companies said Wednesday.
The deal is expected to add $700 million to Forest’s fiscal 2015 revenues and diversify the drugmaker’s offerings in therapeutic areas such as gastrointestinal and cystic fibrosis. Forest, under the deal, also gains access to Aptalis’s proprietary technology platforms, which include formulations that mask the taste of drugs and allow tablet-based products to easily disintegrate .
Forest CEO Brent Saunders says the deal is expected to boost both companies’ currently marketed products while realizing $125 million in cost synergies from combining the drug manufacturers. Aptalis posted sales of $688 million in the fiscal year ending September 2013.
The acquisition is expected to be completed by mid-2014. — Lena Freund
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