Canada-Based Pharmaceutical Company to Acquire Gastrointestinal Leader Salix Pharmaceuticals

Laval, Canada-based Valeant Pharmaceuticals announced on Sunday that it would acquire Raleigh, North Carolina-based Salix Pharmaceuticals for an enterprise value of $14.5 billion. As a part of the deal, Valeant will purchase outstanding shares of Salix for $158 per share, valuing at roughly $10.4 billion. The acquisition is expected to close during the second quarter of this year. On Monday, Bristol-Myers Squibb also announced that it would bulk up its cancer offerings by purchasing venture-backed Flexus Biosciences for up to $1.25 billion. The purchase is structured so Flexus receives $800 million upfront and $450 million in possible milestone payments.

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