Actavis acquires Botox-maker Allergan for $70.5bn

Actavis has completed the acquisition of US-based Botox-maker Allergan, in a deal valued around $70.5bn.

With combined annual pro forma revenues of about $23bn expected this year, the combination is said to create one of the top ten pharmaceutical companies across the globe by sales revenue.

Actavis CEO and president Brent Saunders said: “The combination of Actavis and Allergan creates an exceptional global pharmaceutical company and a leader in a new industry model: growth pharma.

“Anchored by world-renowned brand franchises, a leading global generics business, a premier pharmaceutical development pipeline and an experienced management team committed to maintaining highly efficient operations across the organisation, we are creating an unrivalled foundation for long-term growth.”

“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.”

“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, and continue our ascent into the fastest-growing and most dynamic growth pharmaceutical company in global healthcare.”

The combined company is said to hold three franchises each, with annual revenues of $3bn in ophthalmology, neurosciences, the central nervous system (CNS), medical aesthetics, dermatology and plastic surgery.

The integrated firm also includes portfolio of brands such as Botox, Restasis, Juvederm, Namenda XR, Linzess and Lo Loestrin Fe.

According to Actavis, the new company carries out commercial operations in around 100 countries, including Canada, Europe, South East Asia and Latin America, in addition to strengthening presence in China and India.

Actavis currently has around 20 innovative products in near or mid-term development, including Cariprazine, Eluxadoline, Esmya, Aczone X and Darpin AMD.