Valeant eyes ISTA

December 19, 2011

VALEANT Pharmaceuticals has announced its latest proposal to acquire ISTA Pharmaceuticals for US$6.50 per share. In addition, ISTA has net debt of approximately US$13 million, bringing the total enterprise value to approximately US$327 million. The offer is 67% over ISTA’s closing price of US$3.89 on the stock exchange last Friday. Valeant has been courting ISTA since October this year and decided to make its latest proposal public after ISTA rejected it last week. “We believe ISTA stockholders should not be denied the opportunity to determine for themselves whether their board and management should engage with Valeant in a meaningful and productive dialogue regarding our proposal,” Valeant said. Valeant has said that the offer will remain in effect until 31 January 2012.

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Pharmacy Daily | Valeant eyes ISTA

Valeant eyes ISTA

Other recent headlines

RACGP slams SA move

PSA’s new vaping criteria

IPA makes room for charity

SEARCH PHARMACY DAILY

Featured video

Recent issues

INDUSTRY JOB VACANCIES