Valeant Pharmaceuticals completed its acquisition of Raleigh-based Salix Pharmaceuticals on Wednesday.
The deal did not require a vote by Salix shareholders.
Salix is now a subsidiary of Valeant and its shares have stopped trading on the Nasdaq stock exchange.
Valeant paid $173 per share for Salix in an all-cash deal that is valued at $11.1 billion. Including Salix's debt, the deal was valued at $15.8 billion.
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Salix, which sells drugs to treat gastrointestinal ailments, has a portfolio of 22 drugs. It employs about 915 people, including roughly 300 in North Raleigh.