Actavis will acquire Forest Laboratories in a deal worth approximately $25 billion, the companies have announced. Both boards of directors have approved the agreement. Forest’s products include the Tudorza Pressair aclidinium bromide DPI, which launched in the US in December 2012. Last month, Forest announced its acquisition of Aptalis, the developer of Aeroquin inhaled levofloxacin.
Actavis Chairman and CEO Paul Bisaro, who will run the merged company, said, “With this strategic combination, we create an innovative new model in specialty pharmaceuticals leadership, with size and scale, a balanced offering of strong brands and generics, a focus on strategic, lower-risk drug development, and – most important – the ability to drive sustainable organic growth. 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.”
According to the announcement, the combined company expects to invest more than $1 billion annually in new product development.
Read the Actavis and Forest press release.
