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US: Second time around, pharma lab buyout goes through

By  |  January 8, 2014

Drug manufacturer Forest Laboratories announced Wednesday it entered into an agreement to acquire competitor Aptalis in a $2.9 billion deal, say reports.

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    The merger marks the second time the two companies have tried to do business. The two were in talks last year for a potential deal, but reports say discussions failed following the resignation of former Forest CEO Howard Solomon.

    This transaction, which is subject to regulatory approval from US and Canadian authorities, lead to an unusual sock rally of 17 percent for Forest.

    The Aptalis portfolio focuses on gastrointestinal treatments, reports say, with strong market presence in the US and Europe.

    Full Content: Fox Business

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