Actavis acquires UK generics firm Auden McKenzie

Actavis has completed a deal to acquire UK generic medicines company Auden McKenzie in a deal worth 306 million pounds.

The deal includes a two-year royalty agreement on a percentage of gross profits of one of Auden Mckenzie's products. It will make Actavis the number one supplier of generic pharmaceuticals in the UK, as well as the third-largest supplier of UK pharmaceuticals.

Actavis currently markets more than 650 generic products in the UK, and has approximately 85 additional products under registration and development. The Auden McKenzie deal will add 175 established products and approximately 40 pipeline projects.

Brent Saunders, chief executive officer and president of Actavis, said the deal "aligns with our strategy to establish a leading position in all of our markets, franchises and therapeutic categories".

This comes after the firm expanded its horizons significantly with the acquisition of Allergan earlier this year, which followed on from its recent takeovers of Forest Laboratories and Warner Chilcott.

It will be rebranding to use the Allergan name across its entire business later this year.