Watson purchases Actavis Group

ISTANBUL- Hürriyet Daily News

Pharmaceutical giant Watson has acquired Actavis Group for 4.25 billion euros, making the new entity the third highest value pharmaceutical firm, according to a company press release.

The merger is set to be completed by the last quarter of 2012, boosting revenues to $8 billion for 2012. The acquisition is expected to increase Watson’s presence in the U.S, and will also lead to a wider product offering and more investments in the Turkish market.

Actavis Turkey General Manager Ali Toker also said with the increase in the product portfolio, the new merger would lead to growth and investment opportunities in Turkey.

With the Watson Actavis merger, the new entity will employ 17,000 people, have 20 production centers and more than 12 research and development centers.

Meanwhile another drug giant and plastics maker Bayer is close to making a multi-billion euro acquisition to bolster its healthcare division, three people close to the planned transaction said April 27, according to Reuters.

“A large announcement is imminent,” one of the sources said, declining to specify the name of the target.