Actavis to acquire Warner Chilcott

The transaction, if successfully completed, is expected to create a global specialty pharmaceutical company with around $11bn in combined annual revenue, and the third-largest US specialty pharmaceutical company with about $3bn in annual revenues focused on core therapeutics for women’s health, gastroenterology, urology and dermatology.

The proposed transaction has been approved by the Boards of Directors of Actavis and Warner.

Actavis president and CEO Paul Bisaro said that the combination of Actavis and Warner Chilcott creates a strong specialty brand portfolio focused in therapeutic categories with strong growth potential, and is supported by a deep pipeline of development programs.

"The combination will enhance the value of each company’s portfolio and provides a substantial foundation to support the successful launch of new products over the next several years, particularly in Women’s Health, including Minastrin 24 Fe, Esmya, metronidazole vaginal gel 1.5%, the progestin-only contraceptive patch and other women’s health products in development from the recent acquisition of Uteron Pharma SA," Bisaro added.

Warner Chilcott president and CEO Roger Boissonneault said, "Paul Bisaro and his team have been executing on their vision to build a global and diverse company at the forefront of the specialty pharmaceutical industry, and the addition of Warner Chilcott should enhance the ability of the combined company to successfully execute that vision, and accelerate Actavis’ evolution."

Actavis and Warner Chilcott will be combined under a new company incorporated in Ireland at the close of the transaction, which is expected by the end of 2013.