5/20/2013 6:49:23 AM
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Actavis is buying Warner Chilcott in an all-stock transaction valued at about $8.5 billion which would create the third-biggest specialty pharmaceutical company in the U.S. The announcement on Monday comes after the two companies said earlier this month that they were in talks about a possible combination. It also follows reports that Parsippany, N.J.-based Actavis rebuffed takeover bids from companies including Mylan Inc. and Canadian drugmaker Valeant Pharmaceuticals International Inc. and that Swiss drugmaker Novartis AG was considering a bid. Actavis was formed last fall through a $5.6 billion combination of Watson Pharmaceuticals of New Jersey and Actavis of Switzerland. Actavis sells versions of the deep vein thrombosis treatment Lovenox, asthma medication Xopenex, attention deficit hyperactivity disorder drugs Adderall XR and Concerta, and the cholesterol fighter Lipitor, among many other products.
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