Actavis on Wednesday announced the proposed senior management team that will lead the specialty pharmaceutical company pending the successful close of the acquisition of Forest Labs, which is anticipated at mid-year.
Actavis and Forest Labs. announced that they have entered into a definitive agreement under which Actavis will acquire Forest for a combination of cash and equity valued at approximately $25 billion, or $89.48 per Forest share ($26.04 in cash and 0.3306 Actavis shares for each share of Forest common stock).
Actavis on Friday announced a realignment of its global strategic business structure to maximize the company's newly strengthened position as a leading specialty pharmaceutical developer, manufacturer and marketer, and to enhance Actavis' position for continued long-term growth.
Watson Pharmaceuticals on Wednesday announced the sale of its Rugby over-the-counter business to the Harvard Drug Group — a distributor and provider of private-label OTCs and generic prescription products under the Major Pharmaceuticals brand — for approximately $117 million.
Watson has announced its intention to acquire Actavis, the company said. Following news reports that the U.S.-based generic drug maker would acquire Switzerland-based Actavis, Watson announced that it would buy the latter for $5.6 billion.
The generic drug industry’s main lobby in Washington is hoping to head off cuts to the Food and Drug Administration’s Office of Generic Drugs, which it said could have a “devastating impact” on those who rely on generics.
The Generic Pharmaceutical Association has elected its 2011 executive committee and board of directors, the generic drug industry trade group announced. As part of a reorganization last year, the board has been reduced to 12 members.