Salix Takes over Oceana Therapeutics for $300M
Salix Pharmaceuticals is paying $300 million in cash to acquire Oceana Therapeutics, a provider of gastroenterology and urology therapeutics.
US gastroenterology specialty pharmaceutical company Salix Pharmaceuticals is paying $300 million in cash to acquire Oceana Therapeutics, a provider of gastroenterology and urology therapeutics.
Salix’ strategy has been to in-license late-stage or marketed proprietary therapeutic drugs, complete any required development and regulatory submission of these products, and market them through the company’s gastroenterology specialty sales and marketing team.
"The acquisition of Oceana expands our product portfolio of innovative products, furthers the diversification of Salix’ base business, and provides immediate added revenue,” states Carolyn Logan, president and CEO, Salix. “Oceana markets two differentiated products: Solesta, a first-in-class, biocompa
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