Actavis names new business leaders ahead of Forest takeover

Actavis has detailed the breakdown of its proposed new senior management team, to be introduced after its takeover of Forest Laboratories has been completed.

When the deal closes midway through the year, Brent Saunders – the current chairman and chief executive officer (CEO) of Forest – will take over as CEO and president of Actavis, as well as joining its board of directors.

Paul Bisaro, Actavis' current CEO, will move into the newly-created role of executive chairman, while the company's global operations president Robert Stewart will be promoted to chief operating officer. Mr Stewart will report to Mr Saunders, who in turn will report to Mr Bisaro.

It was also announced that Bill Meury will become executive vice-president for North American brands commercial operations and David Buchen will be appointed executive vice-president for North American generics and international commercial activity.

Mr Bisaro said: "The proposed senior management structure reflects the wealth of exceptional pharmaceutical talent available from both organisations that will lead the new Actavis post-close."

The firm reported its best ever fiscal performance in the first quarter of 2014, reflecting the strong growth it has enjoyed since the merger of Watson and Actavis in 2012 and subsequent takeover of Warner Chilcott the following year.