Forest Laboratories has agreed to pay $2.9 billion cash for Aeroquin developer Aptalis. Aeroquin inhaled levofloxacin for the treatment of P. aeruginosa infections in CF patients, which is in Phase 3 development, was acquired by Axcan when it acquired Mpex in 2011. Axcan and Eurand Pharmaceuticals later merged and renamed the combined company Aptalis in 2012.
Forest Laboratories CEO and President Brent Saunders commented, “Aptalis is an excellent strategic and financial fit for Forest because of its strong product offerings in two therapeutic franchises that are complementary to Forest – GI in the US and Canada and cystic fibrosis in Europe. The acquisition of Aptalis helps diversify Forest while advancing our strategy to create blockbuster therapeutic areas.”
Aptalis CEO Frank Verwiel added, “Aptalis has built a strong position in the North American and European gastroenterology and cystic fibrosis markets through internal product development and acquisitions of products and companies over the last few years. I’m proud of all that our team has accomplished, and Forest’s acquisition of our company is a testament to the value we have created and the strength of the business we have built. There is a strong business fit between Aptalis and Forest, our strategies are closely aligned, and I am confident that Forest will maximize the opportunity for our products and patients.”
Forest markets Colobreathe dry powder colistimethate sodium inhalation powder for the treatment of P. aeruginosa infections in cystic fibrosis patients in Europe. The company said that it expects the deal to be completed in the first half of 2014.
Read the Forest Laboratories press release.
