Watson Pharmaceuticals has completed its acquisition of the Actavis Group for €4.25 billion to create the world’s third largest generic pharmaceutical company, with anticipated pro forma combined 2012 revenues in excess of $8 billion.

The two companies will join forces under the new global name – Actavis – next year.

Watson Pharmaceuticals is focused on developing, manufacturing and distributing generic, brand and biosimilar products. The new amalgamation will have more than 750 products marketed globally through operations in more than 60 countries. It holds a top 10 position in over 33 markets including the US, UK, Canada, Australia, Nordics and Russia, and is also the fastest growing generic pharmaceutical company in Western Europe.

Actavis has a plant in Żejtun with a staff complement of 600, which has been responsible for several successful product launches. Watson already has a presence in Malta thanks to its acquisition of the Arrow Group in December 2009 for $1.75 billion.

Watson funded the acquisition of Actavis, announced last April through a combination of $1.8 billion in term loan borrowings and the issuance of $3.9 billion in senior unsecured notes. The company will initiate a multi-year rebranding campaign for its facilities, operations and commercial presence, and will transition to trading under a new symbol on the New York Stock Exchange next year.

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