Actavis CEO Brent Saunders expects pharma's deal wave to continue. But make no mistake, he says: Potential suitors are going to have to pony up a pretty penny if they want to swallow his company.
Actavis has been working to boost its branded drug sales and shift its identity from a generics maker to a company that houses both branded and copycat meds under one roof. In case there's any confusion about the path it's chosen, it's taking on the name of its latest branded buy.
Actavis is selling its in-house R&D outsourcing company to private equity giant TPG, which has plans for more bolt-on acquisitions.
Actavis says it needs to concentrate on integrating the manufacturing network it will soon get from Allergan and so decided to sell back to private equity investor TPG a small piece of Aptalis. TPG sold Aptalis to Forest Laboratories a year ago just ahead of Forest's buyout by Actavis.
AstraZeneca CEO Pascal Soriot has said he wants to dominate in the respiratory field. Actavis CEO Brent Saunders has no such ambitions. Now, the two have struck a deal.
On an acquisition trail, U.S.-based Actavis has snapped up Auden Mckenzie, a U.K. generics maker, for £306 million in cash plus royalties.
Actavis CEO Brent Saunders is committed to his company, its employees and the brands it sells--at least, that's the image he projected when he received Botox, the lead product from recent purchase Allergan, on a stage in front of 1,000 of the California drugmaker's sales reps.
Actavis has another drug recall to deal with, this one involving nearly 65,000 bottles of the generic version of the seizure drug Neurontin that it manufactures at a plant in India. The voluntary recall follows one in November of a drug that was key to its acquisition last year of Forest Pharmaceuticals.
Back in November, Actavis said it would invite two members of Allergan's board to join the ranks of the new company's directors in the wake of their $66 billion merger. And according to Reuters ' sources, Allergan CEO David Pyott is one of them.
SAN FRANCISCO-- Actavis may be a big pharma now that it's joining hands with Allergan, but it's not a Big Pharma, CEO Brent Saunders insists. The merger partners are taking the term "growth pharma" and running with it as they set out to differentiate themselves from the industry's slow-growing stalwarts.