Forest Labs to buy Furiex Pharma for up to $1.46 billion

Forest Laboratories Inc said it would buy Furiex Pharmaceuticals Inc for up to $1.46 billion, including milestone payments, to add a promising treatment for irritable bowel syndrome to its gastrointestinal drugs portfolio. Forest will pay about $95 per share in cash to Furiex shareholders and up to $30 per share as contingent value rights.