With Actavis-Allergan On Track To Close Soon, Saunders Talks Integration
This article was originally published in The Pink Sheet Daily
Brent Saunders, who will lead the new Allergan once the merger with Actavis closes, is ready to begin the integration, with an eye toward achieving 80% of the expected $2.3 billion in cost savings 12 months after close.
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Tens of billions would go to fund R&D, including Phase I and Phase II development of vaccines. But the plan would also crack down on inversions and offshoring.
The growing spec pharma has seen a 300% increase in its branded portfolio revenues since the acquisition of Forest and Warner Chilcott and is honoring the new direction by taking on the name of its most recent acquisition.
Actavis’ proposal to buy Forest Labs for $25 billion in stock and cash was driven by consolidating customers and fierce competition in traditional Western markets. Different pressures, namely the tough-to-manage patent cliff, as well as leadership succession issues and investor unrest, drove Forest into the arms of a suitor.