Actavis to be bought by Watson
Watson Pharmaceuticals is to buy Actavis.
Watson Pharmaceuticals and Actavis Group have been in business negotiations, which have resulted in them entering a definitive agreement for Actavis to be acquired by Watson.
This should result in the creation of the third-largest global generics firm in the world, with pro forma revenue anticipated to reach $8 billion (£4.95 billion) in 2012.
The value of the deal is around €4.25 billion (£3.48 billion), which will be paid upfront.
President and chief executive officer of Watson Paul Bisaro said the transaction will dramatically enhance his business' global position, as well as bring "complementary products and capabilities" to the US.
Calling the acquisition "commercially compelling", he pointed out it will double his enterprise's international access and boost its operations in emerging and established markets.
Actavis has more than 10,000 members of staff in its workforce and generated an estimated $2.5 billion in revenues over 2011.
It recently launched an online academy, which has helped at least 4,000 pharmacy workers to study.
Posted by David Gleck
Source: Watson press release, April 25th