Forest Laboratories Closes $2.9 Bln. Acquisition Of Aptalis

(RTTNews) - Forest Laboratories Inc. (FRX) Monday announced the completion of its $2.9 billion acquisition of Aptalis, a privately held specialty pharmaceutical company focused on gastrointestinal disorders and cystic fibrosis.

The companies will begin combined operations today, with Aptalis operating as a subsidiary of Forest Laboratories.

The acquisition of Aptalis strengthens Forest's gastrointestinal franchise in the U.S. and Canada, complements its growing cystic fibrosis business in Europe, and creates a cystic fibrosis business in the U.S. market.

Forest expects the acquisition to add about $700 million in revenue and about $0.78 per share to the Company's non-GAAP EPS in the full year 2015.

The acquisition also adds assets to Forest's pipeline in both therapeutic areas. Post-acquisition integration activities will begin today.

As previously announced, Forest anticipates $125 million in cost synergies by fiscal year 2016.