Actavis buys Irish firm for $8.5 billion

AFP-JIJI

U.S. drug company Actavis on Monday agreed to buy Irish peer Warner Chilcott for $8.5 billion including debt, in a bumper takeover that creates a key global player.

“If successfully completed, the transaction will create a leading global specialty pharmaceutical company with approximately $11 billion in combined annual revenue, and the third-largest U.S. specialty pharmaceutical company with approximately $3 billion in annual revenues,” the two firms said in a joint statement.