Please login to the form below

Not currently logged in
Email:
Password:

Actavis completes $70.5bn Allergan acquisition

Finalisation comes after bidding war with deal-hungry Valeant

Actavis_administrative_headquarters_Parsippany 

Actavis has completed its acquisition of Allergan for a total value of around $70.5bn.

The combination of the two companies will create one of the world's top ten pharma companies by sales revenue, with combined annual pro forma revenue of more than $23bn anticipated for this year.

Brent Saunders, CEO and president of Actavis, said: “Our combined company will be built around a customer-focused commitment to partnering with physicians, pharmacists and patients to deliver innovative treatments and enhance access to important therapies around the world.

“With the acquisition now complete, we will immediately begin implementing our comprehensive integration plans to ensure that we leverage our strengthened global organisation to generate sustainable organic earnings growth from our newly expanded base.”

The combination enhances Actavis' international commercial opportunities, with its commercial presence spanning across around 100 countries around the world. 

The combined company is expected to invest $1.7bn into its R&D programmes for 2015.

Actavis will also be buying into Allergan's lead product Botox, which has over the past five years gained more medical-based licences outside of its cosmetic indications, and is seen as a major growth product for the future. 

Actavis has also said it plans to change its name to Allergan.

The finalisation comes after a bidding war with Canadian pharma firm Valeant, who lodged a bid of around $53bn for Allergan at the end of last year. 

But Valeant may not be too disappointed as just this week, the firm raised its offer for specialty drugmaker Salix - after its previous bid was trumped by Ireland-based Endo - and has seemingly sealed the deal with a final $11bn offer.

Article by
Kirstie Pickering

19th March 2015

From: Sales

Share

Tags

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
Wisepress

Wisepress is a medical bookseller promoting and selling books worldwide, both online and via the 200 European medical conferences that...

Latest intelligence

Precision paediatrics: Treating patients with CAR-T
Dr Stuart Adams specialises in using T-cell therapy to treat paediatric patients at Great Ormond Street Hospital. Here, he explains what it was like to develop and deliver a groundbreaking...
What does it mean to be an agile organisation
We spoke with Philip Atkinson to learn how healthcare and pharmaceutical companies can rapidly respond to changes in the market....
Battling breast cancer with precision medicine (Part 2)
Dr Mark Moasser treated breast cancer survivor Laura Holmes-Haddad (interviewed in part one) with an innovative precision medicine, which at the time was yet to be approved. Here he gives...

Infographics