Generic drug maker Actavis plc said today that it has completed its $8.5 billion all-stock acquisition of branded drug maker Warner Chilcott plc, creating the third-largest specialty pharmaceutical company in the U.S.
The deal, first announced in May, expands Actavis’ women’s health and urology business and gives it a range of dermatology and gastroenterology products.
The combined company has been incorporated in Ireland under the name Actavis plc. Warner Chilcott was already based in Ireland and the incorporation there could reduce the combined company’s tax liabilities.
Actavis expects the deal will increase its adjusted earnings per share by more than 30 percent in 2014. The company plans to discuss the details of the deal and combined forecasts for the company during its third-quarter earnings call on Oct. 29.
Date: October 1, 2013
Source: Associated Press