Valeant Pharmaceuticals International, Inc. has completed its previously announced acquisition of the specialty pharmaceutical company, Salix Pharmaceuticals, Ltd., for $173 per share or a total enterprise value of $15.8 billion.

Valeant had raised its offer for Salix in March 2015 from $158 per share or a total enterprise value of $14.5 billion, winning over rival specialty pharmaceutical company, Endo Pharmaceuticals, in its efforts to acquire Salix. The deal followed Valeant’s unsuccessful efforts to acquire the specialty pharmaceutical company, Allergan, in 2014, which was later acquired by Actavis, a deal that was completed earlier this year.

Salix Pharmaceuticals specializes in gastrointestinal drugs and has a portfolio of 22 total products, including prescription brands Xifaxan, Uceris, Relistor, and Apriso.

Source: Valeant Pharmaceuticals