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DUBLIN — Actavis PLC is acquiring Allergan Inc. in a transaction valued at about $66 billion. The combination will create one of the top-10 global pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23 billion anticipated in 2015.
Actavis PLC is acquiring Allergan Inc. in a transaction valued at about $66 billion. The combination will create one of the top-10 global pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23 billion anticipated in 2015.
The transaction has been unanimously approved by the boards of Actavis and Allergan and is supported by the management teams of both companies.
"This acquisition creates the fastest-growing and most-dynamic-growth pharmaceutical company in global health care, making us one of the world’s top 10 pharmaceutical companies," said Actavis chief executive officer and president Brent Saunders. "We will establish an unrivaled foundation for long-term growth, anchored by leading, world-class blockbuster franchises and a premier late-stage pipeline that will accelerate our commitment to build an exceptional, sustainable portfolio. The combined company will have a strong balance sheet, growing product portfolios and broad commercial reach extending across 100 international markets. Our combined experienced management team is dedicated to driving strong organic growth while capturing synergies and maintaining a robust investment in strategically focused R&D."
Allergan chairman and CEO David Pyott said that the deal provides Allergan stockholders with "substantial and immediate" value.
"We are combining with a partner that is ideally suited to realize the full potential inherent in our franchise," he said. "Together with Actavis, we are poised to extend the Allergan growth story as part of a larger organization with a broad and balanced portfolio, a meaningful commitment to research and development, a strong pipeline, and an unwavering focus on exceeding the expectations of patients and the medical specialists who treat them.’"
The combined company is expected to benefit from Allergan’s global brand equity, industry-leading consumer marketing capabilities and strong consumer awareness of key Allergan products, including Botox.
