Actavis buys Allergan and joins pharma top 10

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Actavis buys Allergan and joins pharma top 10

Home/Pharma News | Posted 28/11/2014 0 Post your comment

On 17 November 2014, US generics maker Actavis announced that the company had made a deal to acquire botox-maker Allergan for US$66 billion.

The cash and shares deal is expected to propel Actavis into the top 10 global pharma companies, with annual revenues of US$23 billion. This is just the latest foray by Actavis into the world of originator pharmaceuticals. The company, which started out in generics, bought Irish brand-name drugmaker Warner Chilcott in 2013 [1] and speciality drugmaker Forest Laboratories in February 2014 [2].

The Allergan deal, in contrast to Valeant Pharmaceuticals hostile bid, has been unanimously approved by the Boards of Directors of both Actavis and Allergan, and is supported by the management teams of both companies. Actavis anticipates that the deal will provide long-term financing flexibility.

References
1. GaBI Online - Generics and Biosimilars Initiative. Actavis makes definitive agreement with Warner Chilcott [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2014 Nov 28]. Available from: www.gabionline.net/Pharma-News/Actavis-makes-definitive-agreement-with-Warner-Chilcott
2. GaBI Online - Generics and Biosimilars Initiative. Actavis to acquire speciality drugmaker Forest Labs [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2014 Nov 28]. Available from: www.gabionline.net/Pharma-News/Actavis-to-acquire-specialty-drugmaker-Forest-Labs

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Source: Actavis