Industry News — Clinical Updates
Actavis to Acquire Allergan
Acquisition will create top-10 global pharmaceutical company
Allergan, Inc. (Irvine, CA) and Actavis plc (Dublin, CA) have entered into a definitive agreement under which Actavis will acquire Allergan for a combination of cash and stock valued at approximately $66 billion. The acquisition will create one of the top-10 global pharmaceutical companies by sales revenue, with anticipated combined annual pro forma revenues of more than $23 billion in 2015.
The transaction has been unanimously approved by the boards of directors of Actavis and Allergan and is supported by the senior management teams of both companies. The senior management teams will lead the integration of the companies, with planning to transition to a single company to begin immediately.
The transaction is subject to the approval of the shareholders of both companies, as well as customary antitrust clearance in the United States, European Union, and certain other jurisdictions. It is anticipated to close in the second quarter of 2015.
Updated November 17, 2014