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Purchase of Salix adds gastrointestinal drugs to Valeant stable

Valeant will pay US$158 a share in cash for Salix in US$10.1 billion acquisition

Valeant is a serial acquirer, using an advantageous tax structure to make purchases and then slashing research and development costs to boost profits; before Salix, Valeant had completed US$19.2 billion of deals in the past five years, including the purchase of Bausch & Lomb Inc in 2013.

New York

VALEANT Pharmaceuticals International Inc agreed to buy Salix Pharmaceuticals Ltd for about US$10.1 billion, a person with knowledge of the matter said, to add gastrointestinal drugs to its stable of offerings.

Valeant will pay US$158 a share in cash for Salix, the person