Latham & Watkins Advises Actavis

Forest Laboratories, Inc. (NYSE: FRX) and Furiex Pharmaceuticals, Inc. (NASDAQ: FURX)  have announced that Forest has entered into a definitive agreement to acquire Furiex, a drug development collaboration company, for $95 per share, or approximately $1.1 billion in cash, plus up to $30 per share in a Contingent Value Right (CVR) that may be payable based on the status of eluxadoline, Furiex’s lead product, as a controlled drug following approval.  The acquisition is subject to receipt of customary regulatory approvals and approval by Furiex shareholders. Forest concurrently announced that it has entered into an agreement with Royalty Pharma to sell Furiex’s royalties on alogliptin and Priligy to Royalty Pharma  for approximately $415 million upon successful completion of Forest’s acquisition of Furiex.  As previously announced in February, Actavis plc and Forest have entered into a merger agreement pursuant to which Actavis plc will acquire Forest for approximately $25 billion.

Latham & Watkins LLP is advising Actavis in connection with Forest’s acquisition of Furiex and Actavis’ acquisition of Forest. The deal team for the Furiex transaction, based in the firm’s Orange County, CA office, consists of partners Scott Shean and Charles Ruck, counsel David Wheeler, counsel David Kuiper and associate Jeffrey Holgate.  For further information, please contact Scott Shean at 1.714.755.8152.