Yesterday, Actavis plc (ACT) announced its acquisition of New York City based specialty pharmaceutical company Forest Laboratories, Inc. (FRX). The acquisition, which is to be paid for in stock and cash, cost Dublin-based Actavis about $25 billion. Not only is this a great addition to Actavis’s – the second-largest in the world by revenues in 2012 – but the deal has financially benefited activist investor Carl Icahn, who invested in Forest Laboratories in 2009.
Actavis PLC (ACT), a generic drug maker, announced earnings results for the second quarter of its fiscal year 2014 (2QFY14) today. For the second quarter ending June, the company reported revenues of $2.7 billion, up 34% year-over-year (YoY), beating analysts’ estimates of $2.5 billion. Adjusted EPS for the quarter was $2.62, up 30% YoY, missing analysts’ estimates of $3.375. Net income reported was $0.55 billion this quarter, compared to analysts’ estimates of $0.59 billion.
LONDON/FRANKFURT (Reuters) - Watson Pharmaceuticals Inc is close to buying Swiss-based Actavis for around $7 billion, marking the latest deal between generics companies racing to achieve economies of scale, three sources familiar with the matter said. The deal would see U.S.-based Watson, already among the world's five largest generic drugmakers, paying between 5.0 billion and 5.5 billion euros ($6.6-7.3 billion) for Actavis, a business of comparable size to its own, the sources said. ...
Actavis announced the acquisition of its Dublin-based competitor Warner Chilcott for $5 billion, which will turn it into world’s third biggest generic drug company by market share, reported Financial Times.
The total amount of the deal is $8.5 billion including net debt as well. In the recent months other pharmaceutical giants like Valeant and Mylan made attempts to acquire Actavis as part of the trend of rapid consolidation in the industry.
US drug maker Watson Pharmaceuticals said Wednesday it will buy Iceland-based Actavis for 4.25 billion euros ($5.62 billion), creating the world's third-largest generic drugs company.Watson, maker of a generic version of Lipitor, Pfizer's blockbuster anti-cholesterol drug, said the acquisition of the privately held Actavis would greatly expand its global footprint.
(Reuters) - Watson Pharmaceuticals Inc said on Wednesday it agreed to buy Actavis Group for at least 4.25 billion euros ($5.60 billion), in a deal that cements its status as one of the world's biggest suppliers of generic drugs. Reuters first reported on March 21 that U.S.-based Watson was close to buying the Swiss drugmaker to help it compete more effectively against rivals Teva Pharmaceutical Industries and the Novartis unit Sandoz. ($1 = 0.7585 euros) (Reporting By Lewis Krauskopf in New York and Ben Hirschler in London)