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Wed, Jan. 8, 2:16 AM
- Forest Laboratories (FRX) is reportedly close to agreeing to buy Aptalis Holdings from private equity firm TPG Capital for $3B, with an announcement about the deal possible today.
- Forest has been looking to buy in treatments due to patent expirations on its own blockbuster drugs, such as the antidepressant Lexapro. Aptalis' therapies include those for cystic fibrosis and gastrointestinal disorders; the latter would complement Forest's Linzess.
- Aptalis filed for an IPO in late December in case TPG would be unable to sell the company.
Dec. 26, 2013, 10:05 AM
- CF and GI-focused Aptalis Holdings (APTA) (formed when TPG merged Axcan with Eurand two years ago) files for a $500M IPO.
- TPG acquired the company in 2008 and has a 91% stake.
- The PE firm attempted to sell the company for $3-4B in October, a bid that ultimately failed.
- Sales rose ~12% to $667M in the year ended September 30.
- Net income for the year came in at $87M ($1.26 per share) versus a net loss of $12M in 2012.
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