Actavis strikes deal to purchase Forest Laboratories

Actavis has announced that it will be acquiring Forest Laboratories in a deal worth $25 billion (15.02 billion pounds).

This multibillion-dollar deal is expected to be strategically beneficial for a number of reasons, generating double-digit accretion in 2015 and 2016 and creating a new leader in the field of specialty pharmaceuticals.

Following their combination, Forest and Actavis will possess the potential to create numerous blockbuster franchises in the central nervous system, gastroenterology, women's health, urology and cardiovascular fields.

The merged company will generate sales of approximately $15 billion each year.

Paul Bisaro, chairman and chief executive officer of Actavis, said: "Bolstered by one of the deepest and most diversified product portfolios in the industry with an exceptionally strong pipeline, this transaction creates a powerful engine for generating long-term, double-digit revenue and earnings growth."

This latest takeover comes after Watson Pharmaceuticals merged with Actavis towards the end of 2012, a deal that was followed by the acquisition of Warner Chilcott last year.