Salix Acquires Santarus: Synergies And Analyst Sentiment

Some analysts balked, but Salix management defended the price the company is paying for Santarus on a Nov. 7 earnings call, arguing that synergies from an integration support the valuation of six to seven times the sales price.

By acquiring Santarus Inc., specialty firm Salix Pharmaceuticals Ltd. bolsters its gastrointestinal portfolio and increases the exposure of current and impending products to primary care.

While some analysts on a Salix earnings call on Nov. 7 criticized the deal’s sales multiple (6-7x), most were positive...

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