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.
Generics makers aren't the only ones filing challenges to pharma patents anymore. Hedge funds are doing it, too, and it's got drugmakers on edge.
New-look Actavis--soon to be Allergan--has been undergoing plenty of changes since it agreed in November to shell out $66 billion for the Botox maker. And as it continues to integrate Allergan's ops, it's shaving away at the workforce it inherited from its prior pickup, Forest Labs.
Allergan Chairman and CEO David Pyott fought long and hard to keep Valeant Pharmaceuticals from taking over his company. He engineered a $66 billion sale to ambitious Actavis instead, and the Allergan name now lives on as the merged company's moniker. But Pyott won't be sticking around to enjoy the results.
Actavis has completed its $66 billion buyout of Allergan, which has implications for the manufacturing networks of the two companies.
Actavis and Allergan can finally celebrate: They've cleared the last hurdle to closing their $66 billion merger agreement.
The FDA has expanded the indication of Actavis's Saphris tablet, the only sublingual atypical, or second-generation, antipsychotic to include pediatric patients aged 10 to 17 with bipolar I disorder.