Actavis completes Forest Laboratories and Furiex takeovers

Actavis has announced the completion of the strategically crucial acquisitions of Forest Laboratories and Furiex Pharmaceuticals.

The $28 billion (16.35 billion pounds) takeover of Forest is the larger and more transformative of the two deals, as the combination turns Actavis into one of the world's fastest-growing specialty pharmaceutical companies, with annual revenues of more than $15 billion anticipated for 2015.

It will be able to offer more than 35 products across seven therapeutic market segments, with blockbuster franchises in five categories. Meanwhile, its global generics business will operate in around 60 countries, with a top ten position in more than 25 markets worldwide.

The $1.1 billion purchase of Furiex has been completed via Forest and will strengthen the company's gastrointestinal product pipeline with the addition of Furiex's lead development product eluxadoline.

This drug is currently being assessed as a therapy for diarrhoea-predominant irritable bowel syndrome, a condition that affects around 28 million patients in the US and Europe.

Brent Saunders, chief executive officer and president of Actavis, said: "The new Actavis is uniquely positioned to deliver exceptional long-term financial performance and expand access to pharmaceutical products for patients around the world."