Forest Keeps Wheeling And Dealing Ahead Of Merger
This article was originally published in The Pink Sheet Daily
Acquisitions boosted Forest’s 2014 sales, and the company isn’t slowing down its acquisition strategy even though it is working toward a merger with Actavis.
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The partners began a DTC campaign to promote their constipation drug and ease the conversation between physicians and patients about the often embarrassing condition.
Actavis’ proposal to buy Forest Labs for $25 billion in stock and cash was driven by consolidating customers and fierce competition in traditional Western markets. Different pressures, namely the tough-to-manage patent cliff, as well as leadership succession issues and investor unrest, drove Forest into the arms of a suitor.
Eluxadoline met endpoints in two Phase III studies, positioning the drug for submission in a sparsely served therapeutic area, with only one FDA-approved drug and millions of patients in the U.S. and EU. Mild pancreatitis was reported in a handful of patients, but is manageable, company says.