Oceana Therapeutics has signed a definitive agreement for the sale of its operating subsidiary to Salix Pharmaceuticals for $300m.

Oceana Business Development executive vice-president Gregory Stokes said the sale is expected to benefit both companies, as well as physicians and patients, through the integration of Oceana’s commercial assets, Deflux and Solesta, with Salix’s gastroenterology treatments.

The US Food and Drug Administration (FDA) approved and CE marked Deflux is intended for the treatment of vesicoureteral reflux, an anatomical bladder defect afflicting children.

Solesta, a biocompatible tissue bulking agent, is used as a non-surgical treatment for fecal incontinence.

The transaction is expected to close by the end of 2011, subject to routine closing conditions, including Hart-Scott-Rodino antitrust approval.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.