Friday, December 15, 2006

Forest Labs Buys Cerexa For $480M

New York-based Forest Laboratories said Thursday that it has acquired Alameda-based Cerexa, a biopharmaceutical company developing injectable antibiotics. The deal was worth $480M in cash. Cerexa is developing injectable antibiotics which are targeted at Gram- positive bacteria like MRSA (methicillin resistant Staphylococcus auerus). The firm's lead candidate is entering Phase III studies.