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The Latest Pharma Jobs, News and Events today | 29 January 2015

Actavis to Acquire Auden Mckenzie for £306M

Actavis plc (NYSE: ACT), a leading global specialty pharmaceutical company, and the owners of Auden Mckenzie Holdings Limited, a dynamic and fast growing company focused on the development, licensing and marketing of niche generic medicines and proprietary brands in the UK, today announced that they have reached a definitive agreement, under which Actavis will acquire Auden Mckenzie for approximately £306 million in cash, plus a two-year royalty on a percentage of gross profits of one of Auden Mckenzie’s products. Auden Mckenzie will be acquired on a debt free basis, and the transaction will exclude Auden Mckenzie’s real estate portfolio....

The acquisition will make Actavis the number one supplier of generic pharmaceuticals in the UK. Following the close of the acquisition, and the anticipated combination of Actavis and Allergan later this year, Actavis will hold the number three position in the supply of UK pharmaceuticals. The acquisition of Auden Mckenzie is expected to be immediately accretive to Actavis’ non-GAAP earnings in 2015.

"Auden Mckenzie is one of the leading pharmaceutical companies in the UK, and the opportunity to combine this profitable and growing company into the Actavis UK business demonstrates our commitment to invest in and expand strategically in our global generics business," said Brent Saunders, CEO and President of Actavis.

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