Actavis to buy Warner Chilcott for $8.5 billion
May 21 , 2013
US drugs manufacturer Actavis is to acquire Dublin-based Warner Chilcott for $8.5 billion.
Monday’s announcement comes after the two companies revealed earlier this month that they had discussed a possible merger.
The takeover has been unanimously approved by the boards of both firms.
As part of the deal, Actavis has offered $5 billion in shares to Warner Chilcott investors.
Actavis's products include treatments for deep vein thrombosis, asthma medication and attention deficit disorders.
Warner Chilcott’s drugs are for gastroenterology, women's healthcare and dermatology.
The combined company will boast annual sales of about $11 billion.
The deal is likely to be completed by the end of this year.