Supplier News Breaks Archives
Regulator clears Actavis acquisition of Warner Chilcott
September 30th, 2013
PARSIPPANY, N.J., and DUBLIN, Ireland – The Irish High Court has approved Actavis Inc.'s $8.5 billion deal to acquire Dublin-based Warner Chilcott.
The pharmaceutical companies said Monday that they have now obtained all regulatory approvals need to wrap up the transaction. The closing remains subject to meeting other customary closing conditions and is expected to occur soon thereafter.
Actavis and Warner Chilcott announced the stock-for-stock deal in late May. The agreement was unanimously approved by both companies' boards, and their shareholders voted in favor of the acquisition earlier this month.
The combination of Actavis and Warner Chilcott stands to create a global specialty pharmaceutical company with about $11 billion in total annual sales. In addition, the merged entity would be the third-largest U.S. specialty pharmaceutical company, with about $3 billion in annual revenue, focused on the core therapeutic categories of women's health, gastroenterology, urology and dermatology.
Earlier on Monday, Amneal Pharmaceuticals LLC announced plans to buy four generic drug products from Actavis upon the closing of its Warner Chilcott acquisition deal.