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.
Actavis' fourth-quarter and full-year 2014 results won't be available until the middle of next month, but in the meantime, investors should expect big things, the company said Monday.
Actavis is waiting eagerly to find out whether it can move forward with its plans to force patients over to a new, patent-protected version of blockbuster Alzheimer's treatment Namenda. And its waiting period just got shorter.
Wednesday, it looked like Christmas had come early for Actavis, with the FDA approving its new drug to treat dementia in Alzheimer's patients. But the Dublin drugmaker couldn't go two-for-two on the day, with the agency later striking down its high blood pressure cocktail.
Just one month after announcing a $66 billion pact to buy Allergan, Actavis is eyeing Spain's Almirall as a way to boost its European growth, according to Bloomberg.
Last week, a New York judge called a halt on Actavis' plan to pull Namenda off the market, throwing off its strategy for switching patients to a newer extended-release version.