Actavis Completes Acquisition of Auden Mckenzie
Actavis plc (NYSE: ACT) today announced that it has completed its acquisition of Auden Mckenzie Holdings Limited, a dynamic and fast growing company.
June 1, 2015
(NYSE: ACT) today announced that it has completed its acquisition 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.
acquired 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.
The acquisition of Auden Mckenzie makes
the number one supplier of generic pharmaceuticals in the
and gives the Company the number three position in the supply of
"The acquisition of Auden Mckenzie is a strategic combination that makes
the number one generic company in the
and aligns with our strategy to establish a leading position in all of our markets, franchises and therapeutic categories," said
, CEO and President of Actavis.
"Auden Mckenzie's expertise in the development and commercialization of high value, technically demanding formulations as well as specialized and niche opportunities is complementary to and expands
business focus," said
, Executive Vice President Actavis, and President, Generics and Global Operations. "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."
currently markets more than 650 generic products in the
, and has approximately 85 additional products under registration and development. The combination with Auden Mckenzie adds approximately 175 new generic and branded products, as well as a pipeline of approximately 40 additional products, in various dosage forms, for treatments across a broad spectrum of therapeutic areas.