Actavis to use Allergan name after $66bn takeover

Actavis, which began as a small New Jersey-based generic pill-maker called Watson Pharma, will take the name Allergan after agreeing to buy its new namesake in the drug industry’s largest deal of last year.

The newly-named company will still be based in Dublin, with operational headquarters in Parsippany, New Jersey.

It will sell brand products under Allergan’s name, while using Actavis in some markets.

Earlier yesterday, Actavis announced fourth-quarter results and gave estimates for 2015. Earnings this year, excluding certain items, will be $16.30 to $17.30 a share, Actavis said. Sales will be $15bn (€13.2bn).

Actavis agreed to buy Allergan last year for $66bn, a deal that will make it one of the world’s biggest drugmakers.

The company has been highly acquisitive, and chief executive Brent Saunders previously spent five months as CEO of Forest Laboratories before agreeing to sell that company to Actavis for $21.8bn.