Actavis acquires Auden Mckenzie

Actavis plc (NYSE: ACT) today announced that it has completed its acquisition of Auden Mckenzie Holdings Limited, a dynamic and fast growing company focused on the development, licensing and marketing of niche generic medicines and proprietary brands in the UK. Actavis acquired Auden Mckenzie for approximately £306 million in cash, plus a two-year royalty on a percentage of gross profits of one of Auden Mckenzie's products.

The acquisition of Auden Mckenzie makes Actavis the number one supplier of generic pharmaceuticals in the UK and gives the Company the number three position in the supply of UK pharmaceuticals.

"The acquisition of Auden Mckenzie is a strategic combination that makes Actavis the number one generic company in the UK and aligns with our strategy to establish a leading position in all of our markets, franchises and therapeutic categories," said Brent Saunders, CEO and President of Actavis.

"Auden Mckenzie's expertise in the development and commercialization of high value, technically demanding formulations as well as specialized and niche opportunities is complementary to and expands Actavis' UK business focus," said Robert Stewart, Executive Vice President Actavis, and President, Generics and Global Operations. "The opportunity to combine this profitable and growing company into the Actavis UK business demonstrates our commitment to invest in and expand strategically in our global generics business."