Forest Looks to Rejuvenate with US$2.9 B Aptalis Purchase
Heather Cartwright
Abstract
To help offset revenue losses following the 2012 patent expiry of its antidepressant Lexapro® (escitalopram), Forest Laboratories has agreed to acquire speciality pharmaceutical company Aptalis from its shareholders, including investment firm TPG, for US$2.9 B in cash. The deal is in line with the growth development strategy that Forest announced in December 2013 following the arrival of new CEO Brent Saunders. The deal will diversify the company’s product portfolio, adding complementary therapies in gastrointestinal disease and cystic fibrosis. It will also provide a successful exit for TPG, which in 2008 acquired Aptalis, then known as Axcan Pharma, in a US$1.3 B leveraged buyout.
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