Watson becomes Actavis

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Watson becomes Actavis

Generics/News | Posted 01/02/2013 0 Post your comment

Watson Pharmaceuticals announced on 24 January 2013 that the company had officially adopted Actavis as its new global name under which it will now trade on the New York Stock Exchange.

The company first announced that it would change its name in October 2012, after its acquisition of the Actavis Group [1]. The acquisition of Actavis made the company the third largest generics company in the world, with US$8 billion in combined revenue expected during 2012 [2].

The change in name was necessary as it was seen as beneficial to unite the company under one name to all stakeholders after the acquisition of Actavis, and the expansion of the company into more than 60 markets around the world. The Watson name was not chosen, as it had never been registered globally.

Mr Paul Bisaro, President and CEO of Actavis, said the transition marked ‘an historic day for Actavis and a milestone in our evolution into a global pharmaceutical leader’. He added that the new name united all of Actavis’ 17,000 employees ‘under a single name, trademarked and protected around the world’.

Mr Bisaro continued by saying that the company is ‘committed to continuing the rapid and seamless execution’ of its ‘integration planning efforts in order to provide maximum value’ to ‘customers and shareholders around the world’. Actavis has operations in more than 60 countries and a top 10 position in more than 33 markets.

The company has also invested in a distinctive redesign of the company name, along with a new icon, which apparently reflects the company’s fast-evolving business, as well as its dynamic culture. The grey/green colour has been chosen in order to stand out among pharmaceutical industry competitors, as well as to reflect growth and the commitment of Actavis to be an environmentally responsible company.

Actavis is expecting a bright future ahead of it and has predicted its earnings to rise at least 30% in 2013 as it expands globally.

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References

1. GaBI Online - Generics and Biosimilars Initiative. FDA ordered to let Watson sell generic Actos [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2013 Feb 1]. Available from: www.gabionline.net/Generics/News/FDA-ordered-to-let-Watson-sell-generic-Actos

2. GaBI Online - Generics and Biosimilars Initiative. Watson now third largest generics company with Actavis acquisition [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2013 Feb 1]. Available from: www.gabionline.net/Generics/News/Watson-now-third-largest-generics-company-with-Actavis-acquisition

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Source: Actavis, Reuters