Yahoo! Finance: Biotechnology Industry News: Salix bolsters gastro drug line-up with $2.6 billion Santarus buy

Yahoo! Finance: Biotechnology Industry News The latest news on the Biotechnology industry from Yahoo! Finance

Salix bolsters gastro drug line-up with $2.6 billion Santarus buy Nov 8th 2013, 02:13 [Reuters] - (Reuters) - Salix Pharmaceuticals Ltd (SLXP) will buy Santarus Inc (SNTS) for about $2.6 billion, gaining two new gastroenterology drugs to strengthen its leading presence in that market and sending its shares 10 percent higher. The deal brings together two companies seen as having complementary product portfolios and will mark Salix's biggest acquisition in at least the last ten years - a period when it made as many as six. In addition to the two gastroenterology drugs, biotech firm Santarus has two type 2 diabetes drugs and a cholesterol drug on the market. The combined company will have 22 products on the market.

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