The combined company will be responsible for developing new medicines that address unmet medical needs in critical therapeutic areas and is expected to have combined annual pro forma revenues of more than $23bn in 2015.
The new brand portfolio features six franchises in key therapeutic categories, Dermatology and Aesthetics; CNS; Eye Care; Women’s Health and Urology; GI and Cystic Fibrosis; and Cardiovascular and Infectious Disease.
Actavis CEO and president Brent Saunders said: "Our combined company will be built around a customer-focused commitment to partnering with physicians, pharmacists and patients to deliver innovative treatments and enhance access to important therapies around the world.
"We have industry-leading global commercial strength, with sustainable blockbuster brand franchises in key therapeutic categories and broad commercial reach extending across approximately 100 countries.
"Our experienced field-based representatives will continue to deliver exceptional support on a broad range of products to physicians and specialists around the world.
"Supporting the growth of this innovative industry model is our strategically focused R&D engine, built on novel compounds in specialty and primary care markets where there is significant unmet medical need, and fueled by approximately $1.7bn in annual investment."
According to Actavis, the deal is expected to generate over $8bn in cash flow in 2016, enabling the company to reduce debt as well as its expects about $1.8bn in operating and financial synergies to be achieved within one year of the closing.
The combined company will focus on strategic development of innovative and durable value-enhancing products within brands, generics, biologics and over-the-counter (OTC) portfolios.
According the Actavis, the combined business is the third largest generic manufacturer in the US and holds a top five leadership position in nearly 20 International markets.
The new company also has a portfolio of brands such as Botox, Restasis, Juvederm, Namenda XR, Linzess and Lo Loestrin Fe.
Image: Allergan headquarters in Irvine, California, US. Photo: courtesy of File Upload Bot (Magnus Manske).