Forest Laboratories Inc (FRX.N) said it would acquire Clinical Data Inc (CLDA.O) for $1.2 billion to add to its portfolio of drugs to treat depression. Forest, which makes the antidepressants Lexapro and Celexa and the Alzheimer's drug Namenda, will pay $30 a share in cash. It pledged additional payments of up to $6 a share if Clinical Data's recently approved antidepressant Viibryd achieves commercial milestones. The companies said $30 a share represents a premium of 6.6 percent to the volume-weighted average trading price of Clinical Data stock since the first trading day after the company announced U.S. approval of Viibryd and said it was considering a potential change of control.
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