View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Market Data
November 10, 2011

Salix to acquire Oceana operating subsidiary

Oceana Therapeutics has signed a definitive agreement for the sale of its operating subsidiary to Salix Pharmaceuticals for $300m.

Oceana Therapeutics has signed a definitive agreement for the sale of its operating subsidiary to Salix Pharmaceuticals for $300m.

Oceana Business Development executive vice-president Gregory Stokes said the sale is expected to benefit both companies, as well as physicians and patients, through the integration of Oceana’s commercial assets, Deflux and Solesta, with Salix’s gastroenterology treatments.

The US Food and Drug Administration (FDA) approved and CE marked Deflux is intended for the treatment of vesicoureteral reflux, an anatomical bladder defect afflicting children.

Solesta, a biocompatible tissue bulking agent, is used as a non-surgical treatment for fecal incontinence.

The transaction is expected to close by the end of 2011, subject to routine closing conditions, including Hart-Scott-Rodino antitrust approval.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Key drug pipeline and competitive landscape changes based on the latest clinical activity, sent every Tuesday. Curated analysis and data-driven insights on clinical trials strategy and operations, sent every Thursday. The pharmaceutical industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Clinical Trials Arena