PARSIPPANY, N.J. — Watson Pharmaceuticals has formally changed its name to Actavis and changed its New York Stock Exchange ticker symbol to ACT, the company said Thursday.
The generic drug maker, now the world's third largest, announced its plan to change the name last year after it acquired Actavis. The combined company expects combined 2012 sales to exceed $8 billion.
"Today marks an historic day for Actavis and a milestone in our evolution into a global pharmaceutical leader," Actavis president and CEO Paul Bisaro said. "While we have been operating as one company since last year, today we unite all of our 17,000 employees under a single name, trademarked and protected around the world."
The company has started a multi-year rebranding campaign in which it will change its website, factories, operations and commercial presence around the world and plans to ring the closing bell Thursday at the New York Stock Exchange.