Clinical Data to be Acquired by Forest laboratories

Clinical Data, a pharmaceutical company, has agreed to be acquired by Forest Laboratories, a New York-based drug maker, for $30 per share, or a total of $1.2 billion. Forest said the deal will allow it to leverage its existing presence in the antidepressant category through the launch of Viibryd, which was developed by Clinical Data and approved by the FDA on January 21. for the treatment of adults with major depressive disorder. The transaction was approved by the boards of both companies and is expected to be completed in the second quarter of 2011.