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Actavis Allergan Merger Agreement

In 2015, Actavis plc, based in Ireland, bought Allergan, Inc. in the United States for $70 billion and re-compensated Allergan in a corporate tax reversal to Ireland. [4] [32] Actavis CEO Brent Saunders became CEO of the combined company. [33] In June 2015, the company took the name Allergan. [34] At that time, more than 85% of Allergan plc`s combined sales came from the U.S. health care system after the merger. [Citation required] In June 2019, U.S. pharmaceutical company AbbVie announced that it had reached an agreement to buy Allergan for $63 billion. The merged entity would have its tax headquarters in the United States. [7] In 2005, Allergan acquired Inamed, which had a licensing agreement with Corneal Group Laboratories for Juvederm products. [19] [20] In 2006, Allergan acquired the rights to Juvederm products. [22] [23] For more information, please visit Actavis` website at www.actavis.com.

In June 2019, U.S. pharmaceutical company AbbVie announced that it had reached an agreement to buy Allergan for $63 billion[7] that would bring Allergan back to the United States. [8] Upon the announcement of the transaction, Abbvie announced that the effective net tax rate was 9% in 2019, but that the group`s effective tax rate would increase to 13% after the acquisition. The operation is expected to be completed in 2020. [8] The 2015 merger and Irish reversal of the two-company corporation tax, Actavis plc, based in Ireland, and Allergan, Inc.[9] Statements relating to future events or other non-historical facts are forward-looking statements that reflect Actavis`s current outlook on existing trends and information at the time of this press release. Unless specifically required by law, Actavis denies any intention or obligation to update these forward-looking statements. Actual results may differ materially from Actavis` current expectations, depending on a number of factors that influence Actavis` business. These factors include the difficulty of predicting the timing or outcome of FDA approvals or actions, if any; Competitive product and price effects Market acceptance and continued demand for Actavis products; Risks associated with acquisitions, mergers and joint ventures; difficulties or delays in manufacturing; and other risks and uncertainties contained in Actavis` periodic public filings with the Securities and Exchange Commission, including, but not limited to Actavis` annual report on Form 10-K for the year ended December 31, 2014. Unless specifically required by law, Actavis denies any intention or obligation to update these forward-looking statements.

The combined company`s expanded senior management team is comprised of Executives from Actavis and Allergan. It is structured in such a way that it uses the strong talents of both organizations to ensure that the new company benefits from its expanded global commercial presence and the proven track record of Allergan`s high-performance and extremely important product franchise, while maintaining Actavis` continued dominance as a global leader in generic drugs.

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