This month in business
Remember Allergan’s eyeing-up of Salix?
Back when Allergan was trying to avoid takeover by Valeant, they looked at buying the specialist pharmaceutical company, Salix, for US$11 billion. Why? Doing so would wipe out their particularly attractive net cash proportion. It appears that Salix was suffering from inventory issues – wholesalers had amassed too much stock of their biggest-selling products, Uceris, Apriso and Xifaxan. Salix’s Q4 2014 and Q1 2015 sales will therefore have suffered. After their deal with Allergan fell through, Salix was then briefly courted by Actavis – who went on to buy Allergan instead.
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