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DUBLIN, Ireland — Actavis plc said that it will adopt the Allergan corporate name after the companies close their merger deal.
Actavis plc said that it will adopt the Allergan corporate name after the companies close their merger deal.
Actavis said that it aims to use Allergan as its corporate name and for its global branded pharmaceutical portfolio, while retaining the Actavis name for select geographic regions and product portfolios.
The change in corporate name would be subject to approval by Actavis shareholders at its annual general meeting later this year.
Following shareholder approval and formal adoption of the new corporate naming structure, Actavis would continue to operate under its current name and trade on the New York Stock Exchange under its present symbol, ACT.
"The pending combination of Actavis and Allergan will create a dynamic new breed of company, a leader in growth pharma," Actavis president and chief executive officer Brent Saunders stated. "By adopting the Allergan name for the corporation, we will ensure that our corporate identity reflects the dramatic evolution of our company within the pharmaceutical industry."
Actavis announced the acquisition of Allergan Inc., a deal valued at about $66 billion, in November. The combination stands to create one of the top 10 global pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23 billion projected in 2015.
