Seeking Alpha

Forest buys Furiex

Forest Labs (FRX) acquires Furiex Pharmaceuticals (FURX) for $95/share ($1.1B) in cash and up to $30/share in a Contingent Value Right (CVR) payable on the regulatory approval of eluxadoline.

Forest will divest Furiex's royalties on alogliptin and Priligy to Royalty Pharma for $415M which will reduce its purchase price by ~$315M (after tax).

Furiex shares are up 26% premarket on robust volume.

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