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The European Biotechnology Network is dedicated to facilitating co-operation between professionals in biotechnology and the life sciences all over Europe.

The non-profit organisation brings research groups, universities, SMEs, large companies and indeed all actors in biotechnology together to build and deliver partnerships.

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    White-knight bidder for Botox

    19.11.2014 It’s not every day that a company is pushed into the top ten of its sector, but that day has come for Actavis. Christmas came early for the new pharma giant after completing a US$66bn (€53bn) takeover battle for the Botox manufacturer Allergan.

    There’s a happy ending for the Californian pharmaceutical company, who has avoided a hostile takeover by Canadian pharmaceutical Valeant. Allergan shareholders are now set to receive a combination of US$129.22 in cash and 0.3683 Actavis shares for each share of Allergan common stock. The transaction between the two companies is valued at US$66m or US$219 (€175) per share.Irish Actavis beat its Canadian competitor Valeant after a takeover battle that lasted seven months. For Actavis, the merger is a tour de force and has made them one of the ten largest pharmaceutical companies in the world.

    “This acquisition creates the fastest growing and most dynamic growth pharmaceutical company in global healthcare, making us one of the world's top 10 pharmaceutical companies," said Brent Saunders, CEO and President of Actavis, who will head the combined company.Under the deal, Actavis will lead the company and hopes to make US$23bn in revenue from Allergan’s ophthalmology, neurosciences and dermatology business together with Actavis’ gastroenterology and women’s health franchises."Today's transaction provides Allergan stockholders with substantial and immediate value, as well as the opportunity to participate in the significant upside potential of the combined company," said David E. I. Pyott, Chairman and CEO of Allergan.

    In the same week as the Actavis-Allergan deal, the Dublin-based pharma also finalised the acquisition of Durata Therapeutics. The acquisition of the Chicago-based pharma enhances Actavis' Infectious Disease portfolio with Durata’s FDA-approved Dalvance, a novel antibiotic for acute bacterial skin and skin structure infections in adults. The Durata merger is ultimately the icing on the cake for Actavis, whose share price increased by more than 10 percent between 14 – 18 November.

    © european-biotechnology-news.com/jc

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