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AbbVie’s planned $63bn purchase of the Botox-maker will earn $123m for bank
David Tepper’s Appaloosa hedge fund had been instigating for change
...It was once a Wall Street darling, executing an inversion deal with Actavis and other aggressive acquisitions. As its growth prospects slowed, investors grew restless....
...A former Bausch & Lomb executive, the 49-year-old built Allergan through a succession of deals that began in 2013 when the company he ran, then called Actavis, bought Ireland-headquartered Warner Chilcott...
...The firm’s original investment in Allergan was a money-spinner, reaping gains of $2.3bn before the company agreed a sale to Actavis....
...Actavis Holdco U.S., Inc.; Actavis Pharma, Inc.; Ascend Laboratories, LLC; Apotex Corp.; Dr....
...Allergan received a 10 per cent stake, or 100m shares, in Teva last year after it agreed to sell its generics business Actavis to the Israeli drugmaker last year....
...The relevant SEC filings were made by Allergan, Inc. prior to its acquisition by Actavis plc....
...US drugmaker Pfizer plans to continue a legal battle with rival Actavis over the way its blockbuster drug Lyrica is sold in the UK after the Court of Appeal on Thursday rejected a claim of patent infringement...
...Less than a year later Forest was acquired by Actavis (which subsequently merged with Allergan) resulting in massive gains for Forest shareholders....
...In 2013 Ireland-based Warner Chilcott bought US-based Actavis, then in 2015, Actavis bought US-based Allergan....
...Actavis acquired Allergan, which makes the Botox cosmetic, last year and adopted its name after the deal closed....
...Allergan, previously known as Actavis, was itself one of numerous lesser-known US companies to have “redomiciled” to Ireland or other lower-tax countries....
...While generic drugmakers Actavis and Par are expected to appeal against the verdict, Indivior will now have at least another year to launch its successor treatment, a monthly injection, said Deutsche Bank...
...The transaction will rank behind Verizon’s $49bn debt sale in 2013, as well as the $46bn offering from AB InBev and a $21bn issuance from Actavis, Dealogic data show....
...That transaction transformed the company, then known as Actavis, from a manufacturer of generic copycat medicines into a branded drugmaker. “Brent is a bold guy,” says one investor....
...In 2013, US-based Actavis bought Ireland-headquartered Warner Chilcott, paving the way for the company to relocate its tax base away from the US and paved the way for a series of aggressive acquisitions...
...How did we get into this world of corporate flux, in which companies such as Valeant and Actavis, which acquired Allergan and renamed itself, gobble up others before most people have learnt their peculiar...
...In 2013, US-based Actavis bought Ireland-headquartered Warner Chilcott, paving the way for the company to relocate its tax base away from the US and leading to aggressive acquisitions that culminated in...
...Allergan (formerly known as Actavis and before that as Watson) describes itself as pioneering a new model in the drug sector....
...Tim Powell, partner at Powell Gilbert, the law firm that represented Actavis, said the UK ruling provided “welcome clarity in a very complex area of the law”....
...The tie-up with Actavis also paved the way for further dealmaking....
...It is just over a year since Brent Saunders became chief executive of Allergan, then known as Actavis, but he has changed the company beyond recognition....
...Last November, drugmaker Actavis clinched a $66bn deal for Allergan, best known for its Botox treatment but whose biggest business was eyecare products (Actavis later rebranded itself as Allergan)....
...But Allergan’s combination last year with Actavis — itself newly enlarged through a dizzying series of deals — created a company that fitted his two main criteria....
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