Allergan reported to seek out Salix deal

Share this article:

Allergan is reportedly seeking an Allergan-Salix Pharmaceuticals alliance to foil Valeant's takeover attempt. Sources tell the Wall Street Journal that Allergan could be set to sign a deal with Salix or another company within the month, and that a merger would “add another layer of intrigue and complication to one of the year's biggest and most colorful merger dramas.”

The WSJ says some of the complexity is that Salix is mid-merger with Italy's Cosmo Technologies, and that this merger agreement prevents either party from walking away to pursue “an alternative transaction,” although an analyst tells the WSJ Salix could probably get out of the deal in exchange for a $25 million breakup fee.

Valeant is looking to take over Allergan in a hostile $53 billion bid. Allergan has already run through a list of possible suitors, and has asserted that a Valeant takeover would be a disaster for its portfolio. 

Share this article:
You must be a registered member of MMM to post a comment.
close

Next Article in Business Briefs

Email Newsletters

MM&M Future Leaders


Register now

Early bird $1,950 before 31 October 2014

*Group discounts available on request 

MM&M EBOOK: PATIENT ACCESS

Patient access to pharmaceuticals is a tale of two worlds—affordability has improved for the majority, while the minority is hampered by cost, distribution and red tape. To provide marketers with a well-rounded perspective, MM&M presents this e-book chock full of key insights. Click here to access it.

More in Business Briefs

Novartis said to be stepping out of HCV

Novartis is said to have relinquished rights to an investigational hep. C treatment, signaling its exit from the therapeutic space, according to a former partner's announcement.

Monday Moves: September 15

Hires and promotions for manufacturers, regulatory and agencies

Kantar acquires Evidências, expands Brazilian presence

The company's acquisition signals the growing importance of understanding the Brazilian healthcare market and evidence-based healthcare management services.