Actavis Plc, the world’s second- largest generic-drug maker by market value, agreed to buy Forest Laboratories Inc. for about $25 billion in a deal that will transform it into a developer of brand-name drugs.
Teva Pharmaceutical Industries Ltd. is set to rebound from the biggest weekly slump since November as a pledge to overhaul the Israeli company’s board offsets earnings growth concerns, Sanford C Bernstein & Co. said.
Forest Laboratories Inc., maker of the Alzheimer’s drug Namenda, will buy Aptalis Pharma for $2.9 billion, adding treatments for gastrointestinal ailments and cystic fibrosis. Forest rose the most in at least 34 years.
The shares of Teva Pharmaceutical Industries Ltd., the world’s largest generic-drug maker, have plunged 42 percent since their 2010 peak. Now the man hired to turn the company around just 18 months ago is gone, and analysts say it may be tough to find a replacement.