Former Pharma Highflier Appreciates Bathroom Humor -- Overheard
December 12 2018 - 11:10AM
Dow Jones News
By Charley Grant
What's old is new again in pharma.
Bausch Health, formerly known as Valeant Pharmaceuticals, is
back in the acquisitions game after a long hiatus. The company
announced Wednesday that it has acquired the assets of Synergy
Pharmaceuticals for $200 million. The deal gives Bausch access to
Synergy's lead drug Trulance, which treats irritable bowel
syndrome.
The deal is Bausch's first major acquisition since 2015. At that
time, Valeant had become one of the world's most valuable drug
companies by buying up troubled assets. Valeant later had to
abandon that strategy because of a bloated balance sheet and heavy
scrutiny of the company's sales and pricing practices.
Synergy is infamous in its own special way. The company made
headlines last year when it launched the Poop Troop, a series of
emojis "to allow people to better express the physical and
emotional impact of chronic idiopathic constipation." Sales have
largely disappointed.
Some companies are just meant to be together.
Write to Charley Grant at charles.grant@wsj.com
(END) Dow Jones Newswires
December 12, 2018 10:55 ET (15:55 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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