Actavis Inc.’s $5 billion deal to buy Warner Chilcott Plc brings in a new stable of brand-name women’s health drugs. It also comes with headquarters relocated to Ireland and lower taxes for the combined company.
Actavis Inc. rejected a cash-and- stock offer from fellow generic-drug maker Mylan Inc. for about $15 billion, deciding instead to pursue talks to take over Warner Chilcott Plc, said people familiar with the matter.
For more than a decade, drugmakers have battled U.S. Federal Trade Commission accusations that they have colluded to forestall the introduction of dozens of generic medicines, costing buyers as much as $3.5 billion a year.
Pfizer Inc.’s strategy to keep its market share of cholesterol pill Lipitor may boost revenue without aiding profit, said the chief executive officer of Watson Pharmaceuticals Inc., the drugmaker’s partner on the medicine’s generic version.
AstraZeneca Plc, the U.K.’s second- biggest drugmaker, agreed to settle a lawsuit against generic manufacturer Actavis Inc. that alleged violation of the patent on the company’s best-selling Crestor cholesterol treatment.