Salix Pharma to combine with unit of Italy’s Cosmo
US drugmaker Salix Pharmaceuticals (Nasdaq: SLXP) has agreed to combine with an Ireland-based unit of Italy’s Cosmo Pharmaceuticals SpA (COPN: S) in an inversion deal which will provide the US firm with tax advantages. Shares of Cosmo, which trades on the Swiss Stock Exchange, rose 3.9% to 166.20 Swiss francs yesterday.
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