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Forest Labs completes $2.9B acquisition of Aptalis

Forest Laboratories announced the completion of its 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 approximately $700M in revenue and about 78c per share to the company’s non-GAAP EPS in FY15. 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 $125M in cost synergies by FY16.