At the close of the transaction, expected by year-end 2013, Actavis and Warner Chilcott will be combined under a new company incorporated in Ireland called Actavis plc, and will be led by the current Actavis leadership team.
"We have set as our strategic corporate objective to build a leading global specialty pharmaceutical company," said Paul Bisaro, president and chief executive officer of Actavis. "The combination of Actavis and Warner Chilcott creates a strong specialty brand portfolio focused in therapeutic categories with strong growth potential, and is supported by a deep pipeline of development programs. The combination is commercially and financially compelling, and reshapes the specialty pharmaceutical universe by creating a powerful global competitor.”
"The Warner Chilcott team has built a powerful specialty brands business with a strong pipeline, and this compelling transaction brings together two complementary organizations with the potential to create even more value for shareholders," said Roger Boissonneault, president and chief executive officer of Warner Chilcott. "Paul Bisaro and his team have been executing on their vision to build a global and diverse company at the forefront of the specialty pharmaceutical industry, and the addition of Warner Chilcott should enhance the ability of the combined company to successfully execute that vision, and accelerate Actavis' evolution."