The pink slips are flying at Allergan once again. Recently bought by Actavis in a $66 billion deal, the company is preparing to lay off 577 more workers in a cost-cutting drive that started last year and won't end till its new head honchos finish squeezing savings out of the combined company.
Actavis has made its case to a federal appeals court that it should be able to stop making the original version of its Alzheimer's treatment Namenda IR, which is going off patent, and replace it with its once-daily version Namenda XR.
Actavis is trying to encourage an appeals court to let it force patients over to a new, patent-protected version of Alzheimer's treatment Namenda. Hundreds of millions in sales rest on the decision. But so far, the judges aren't offering any clues about their answer.
Allergan--now owned by Actavis--and its former hostile suitors, Valeant and Bill Ackman's Pershing Square, are putting the past behind them.
With Actavis and Ironwood's first DTC campaign for GI med Linzess, the goal was to help patients identify irritable bowel syndrome with constipation and chronic idiopathic constipation by clearly communicating the symptoms. Now that the team is back with its sophomore DTC effort, the goal is to encourage patients to find a solution to their problems. A branded, prescription solution.
The divestiture of Actavis' drug delivery unit to private equity firm TPG is now complete. The Irish pharma company divested Aptalis to focus on its recently completed merger with Allergan for $70 billion. John Fraher, the CEO of the new drug delivery company, dubbed Adare, told FierceDrugDelivery he intends to grow the company by acquisition.
Through a storm of M&A activity, Actavis CEO Brent Saunders has climbed his way up into the CEO's chair at one of pharma's top 10 drugmakers--and it's a climb for which he's been well rewarded.
Actavis Australia has agreed to sell its generic pharmaceuticals business to Swiss-based Amneal Pharmaceuticals for an undisclosed amount, moving quickly to shed a unit that is not seen as core to the branded drug business after the merger with Allergan.
Actavis' agreement to buy Allergan for $66 billion put then-Allergan CEO David Pyott in line for a hefty payout in cash and shares--and now that the tie-up is official, he's collecting.
G&W Laboratories, a small generic drugmaker, recently broke onto the pharma scene publicly with two substantial deals in 10 months for plants and products. The first deal was last summer when it bought an Actavis plant, and this month it announced a deal to do the same with Teva Pharmaceutical Industries.