Actavis’ takeover by Watson officially completed

Actavis has formally become part of Watson Pharmaceuticals following the completion of a 4.25 billion euro (3.39 billion pounds) takeover.

The merger of the two organisations creates the third-largest generic pharmaceutical company in the world, with anticipated revenues for 2012 expected to come to more than $8 billion.

Following the completion of this deal, both organisations expect to experience significant cost synergies, a stronger supply chain and an expanded global footprint spanning more than 60 nations.

Moreover, the combined company now offers an industry-leading global product portfolio of more than 750 molecules offered in more than 1,700 different combinations and dosage forms.

Paul Bisaro, president and chief executive officer of Watson, said: "Today we unite two powerful, profitable and rapidly growing companies into one exceptional global business."

Watson has decided to adopt Actavis as its new global name from 2013 onwards and will initiate a multi-year rebranding campaign for its facilities, operations and commercial presence.