Salix Pharmaceuticals Completes Acquisition of Oceana Therapeutics

The companies closed a transaction whereby Salix acquired all of the outstanding stock of Oceana Therapeutics.

Salix Pharmaceuticals, Ltd. and Oceana Therapeutics, LLC yesterday closed a transaction whereby Salix acquired all of the outstanding stock of Oceana Therapeutics, Inc., a privately-held global provider of gastroenterology and urology therapeutics.

"The acquisition of Oceana expands our product portfolio of innovative products, further diversifies Salix's base business and provides immediate added revenue,” stated Carolyn Logan, President and Chief Executive Officer, Salix. “By means of this transaction, Salix is positioned to provide physicians and patients two additional products - SOLESTA?; a first-in-class, biocompatible tissue bulking agent for the treatment of fecal incontinence; and DEFLUX?, the only FDA-approved alternative to major ureteral reimplantation surgery for the treatment of vesicoureteral reflux."

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