Actavis completes acquisition of Furiex

Actavis (ACT) announced that its subsidiary Forest Laboratories has successfully completed its acquisition of Furiex Pharmaceuticals (FURX) in an all-cash transaction valued at approximately $1.1B, and up to approximately $360M in a Contingent Value Right that may be payable based on the status of eluxadoline, Furiex's product, as a controlled drug following approval. In connection with the close of the Furiex acquisition, Actavis further announced that it has closed the transaction related to the sale of Furiex's royalties on alogliptin and Priligy to Royalty Pharma for approximately $415M.