Actavis Plc
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Actavis Generics (formerly known as Watson Pharmaceuticals and Actavis plc, prior to the acquisition of Irish-based Allergan Inc) is a global
pharmaceutical A medication (also called medicament, medicine, pharmaceutical drug, medicinal drug or simply drug) is a drug used to diagnose, cure, treat, or prevent disease. Drug therapy (pharmacotherapy) is an important part of the medical field and re ...
company focused on acquiring, developing, manufacturing and marketing branded pharmaceuticals,
generic Generic or generics may refer to: In business * Generic term, a common name used for a range or class of similar things not protected by trademark * Generic brand, a brand for a product that does not have an associated brand or trademark, other ...
and
over-the-counter Over-the-counter (OTC) drugs are medicines sold directly to a consumer without a requirement for a prescription from a healthcare professional, as opposed to prescription drugs, which may be supplied only to consumers possessing a valid prescr ...
medicines, and biologic products. Actavis has a commercial presence across approximately 100 countries. The company has global
headquarters Headquarters (commonly referred to as HQ) denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States, the corporate headquarters represents the entity at the center or the to ...
in
Dublin Dublin (; , or ) is the capital and largest city of Republic of Ireland, Ireland. On a bay at the mouth of the River Liffey, it is in the Provinces of Ireland, province of Leinster, bordered on the south by the Dublin Mountains, a part of th ...
, Ireland and administrative
headquarters Headquarters (commonly referred to as HQ) denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States, the corporate headquarters represents the entity at the center or the to ...
in Parsippany-Troy Hills, New Jersey, United States. Actavis PLC markets brand products through six franchises in key therapeutic categories including: Aesthetics/Dermatology/Plastic Surgery; Neurosciences/CNS; Eye Care; Women's Health and Urology; GI and Cystic Fibrosis; and Cardiovascular Disease and Infectious Disease. The company's products include
Botox Botulinum toxin, or botulinum neurotoxin (BoNT), is a neurotoxic protein produced by the bacterium '' Clostridium botulinum'' and related species. It prevents the release of the neurotransmitter acetylcholine from axon endings at the neuromus ...
, Namenda,
Restasis Ciclosporin, also spelled cyclosporine and cyclosporin, is a calcineurin inhibitor, used as an immunosuppressant medication. It is a natural product. It is taken orally or intravenously for rheumatoid arthritis, psoriasis, Crohn's disease ...
, Linzess, Bystolic, Juvederm,
Latisse Bimatoprost, sold under the brand name Lumigan among others, is a medication used to treat high pressure inside the eye including glaucoma. Specifically it is used for open angle glaucoma when other agents are not sufficient. It may also be used ...
, Lo Loestrin Fe, Estrace, Teflaro, Dalvance, Ozurdex, Optive, Natrelle, Viibryd, Liletta, Saphris, Enablex, Actonel, Androderm, Gelnique and others. Actavis PLC also operates the world's third-largest generics business. The company has been ranked in the top 3 in 12 global markets, the top 5 in 16 global markets, and in the top 10 in 33 global markets. Actavis also develops and out-licenses generic pharmaceutical products outside the US through its Medis third-party business, the world's largest generic pharmaceutical out-licensing business. Medis has more than 300 customers globally, and offers more than 200 products. Actavis PLC is also developing biosimilars products in oncology and other therapeutic categories, and currently has five biosimilar products in development. Actavis PLC has more than 40 manufacturing and distribution facilities around the world, with a capacity of approximately 40 billion units annually. Actavis Global Operations also included Anda Inc, the fourth-largest US generic pharmaceutical product distributor in the United States. On June 15, 2015, Actavis plc changed its name to
Allergan plc Allergan plc is an American, Irish-domiciled pharmaceutical company that acquires, develops, manufactures and markets brand name drugs and medical devices in the areas of medical aesthetics, eye care, central nervous system, and gastroenterology. ...
, but the company's U.S. and Canadian generics business will continue to operate under the Actavis name. In July 2015,
Allergan Allergan plc is an American, Irish-domiciled pharmaceutical company that acquires, develops, manufactures and markets brand name drugs and medical devices in the areas of medical aesthetics, eye care, central nervous system, and gastroenterology. ...
PLC announced it would sell its Generics division of the company, including Anda Inc, to
Teva Pharmaceuticals Teva Pharmaceutical Industries Ltd. (also known as Teva Pharmaceuticals) is an Israeli multinational pharmaceutical company with headquarters in Tel Aviv, Israel. It specializes primarily in generic drugs, but other business interests include ...
for $40.5 billion, a transaction proposed for completion by the first quarter of 2016.


History

The company was founded in the spring of 1983, when, with funding from friends and family, colleagues Allen Chao, Ph.D. and David Hsia, Ph.D., began a small drug development enterprise. Just two months later, the founders established an initial product-development and analytical laboratory with six employees (including both founders) in a leased space in Libertyville, Illinois (U.S.). By late fall of the same year, the company moved to
Southern California Southern California (commonly shortened to SoCal) is a geographic and Cultural area, cultural region that generally comprises the southern portion of the U.S. state of California. It includes the Los Angeles metropolitan area, the second most po ...
into an initial 2,000-square-foot (190 m2) leased facility in
Corona Corona (from the Latin for 'crown') most commonly refers to: * Stellar corona, the outer atmosphere of the Sun or another star * Corona (beer), a Mexican beer * Corona, informal term for the coronavirus SARS-CoV-2, which causes the COVID-19 di ...
, and the development and manufacturing of generic pharmaceuticals began. The Corona site became the corporate headquarters for the rapidly expanding US company.


Company evolution


1990s

Throughout its history, Actavis has expanded both organically and as the result of strategic acquisitions. In 1993, Actavis, then Watson, announced its initial public offering (IPO) of shares of common stock. The company was initially listed on the NASDAQ under the ticker symbol WATS. The company moved to the New York Stock Exchange (NYSE) in 1997, and began trading under the symbol WPI.


2000 to 2009

In 2000, the company acquired Schein Pharmaceutical Inc, an acquisition that more than doubled the company's size. In that same year, the group reported revenues in excess of $1 billion. In the fall of 2006, it acquired Andrx Corporation, a Fort Lauderdale, FL–based pharmaceutical company, making it the third largest specialty pharmaceutical company based on total prescriptions dispensed. In 2007, Dr. Allen Chao retired as President and Chief Executive Officer (CEO) and was succeeded by Paul M. Bisaro. The company's international presence began with the acquisition of the Arrow Group in 2009, providing the company with commercial presence in more than 20 international markets. As a result of the Arrow acquisition, the company also acquired the biopharmaceutical development organization Eden Biodesign in
Liverpool Liverpool is a city and metropolitan borough in Merseyside, England. With a population of in 2019, it is the 10th largest English district by population and its metropolitan area is the fifth largest in the United Kingdom, with a popul ...
, UK.


2011 to 2014

In 2011, Watson moved its corporate headquarters from
Corona, California Corona (Spanish for "Crown") is a city in Riverside County, California, United States. At the 2020 census, the city had a population of 157,136, up from 152,374 at the 2010 census. The cities of Norco and Riverside lie to the north and north ...
to Parsippany, New Jersey. The new LEED-certified corporate headquarters at the Morris Corporate Center in Parsippany was formally dedicated on June 9, 2011.


Actavis acquisition and Watson name change

In November 2012, Watson acquired the Switzerland-based, global generics company Actavis Group for , creating the world's third largest generics company, with a leading position in key established commercial markets including the US, the UK, Nordics, Canada, Australia, and emerging markets in Central and Eastern Europe, and Russia. Following the acquisition, Watson adopted Actavis' name for its global operations.


Warner Chilcott PLC acquisition

On October 1, 2013, Actavis acquired Irish pharmaceutical company
Warner Chilcott Warner Chilcott (formerly Galen) was a company in the pharmaceutical industry based in Rockaway, New Jersey. It was primarily focused on women’s healthcare and dermatology. On October 1, 2013, the company was acquired by Actavis (now Allergan). ...
PLC (previously known as Galen) in a stock-for-stock transaction valued at approximately $8.5 billion. The combination created a company with approximately $10 billion in anticipated combined annual 2013 revenue, and the third-largest US specialty pharmaceutical company with approximately $3 billion in annual revenue focused on the core therapeutic categories of women's health, urology, gastroenterology and dermatology. In association with the merger the company relocated its corporate headquarters to Ireland while maintaining its operational headquarters in Parsippany, taking advantage of the lower (17% vs. 35% in the United States) Irish corporate tax rate. This deal inspired a series of similar moves by other drug companies and led to new Treasury Department regulations limiting the ability of companies to perform such inversions, although Actavis was exempt from these regulations as its move abroad had already been completed. CEO Paul Bisaro stated that in making the inversion, they were trying to "level the playing field" given the high corporate tax rate in the United States.


Forest Laboratories acquisition

On July 1, 2014, Actavis announced that it had completed its acquisition of
Forest Laboratories Forest Laboratories was a company in the pharmaceutical industry incorporated in Delaware, with its principal office in New York City. It was known for licensing European pharmaceuticals for sale in the United States. On July 1, 2014, the compan ...
(who previously acquired, Furiex Pharmaceuticals Inc and Aptalis Pharma) in a cash and equity transaction valued at approximately $25 billion. Following the acquisition, the company restructured its executive leadership, with Paul Bisaro being named Executive Chairman, and Brent Saunders being appointed CEO and President of the combined organization.


Allergan Inc acquisition and Actavis PLC name change

In November 2014, Actavis PLC announced its intention to acquire Allergan Inc, the manufacturer of
Botox Botulinum toxin, or botulinum neurotoxin (BoNT), is a neurotoxic protein produced by the bacterium '' Clostridium botulinum'' and related species. It prevents the release of the neurotransmitter acetylcholine from axon endings at the neuromus ...
. Completion of the deal would increase its market capitalization to $147 billion. On March 17, 2015, Actavis PLC completed the acquisition of Allergan Inc in a cash and equity transaction valued at approximately $70.5 billion. The combination created a $23 billion diversified global pharmaceutical company with commercial reach across 100 countries. In June 2015, Actavis PLC officially changed its name to Allergan PLC.


United Kingdom price fixing controversy

In December 2016, the company was accused of breaking competition law by “charging excessive and unfair prices” by the
Competition and Markets Authority The Competition and Markets Authority (CMA) is the competition regulator in United Kingdom. It is a non-ministerial government department in the United Kingdom, responsible for strengthening business competition and preventing and reducing anti-com ...
. It was alleged that the company had increased the price of
hydrocortisone Hydrocortisone is the name for the hormone cortisol when supplied as a medication. Uses include conditions such as adrenocortical insufficiency, adrenogenital syndrome, high blood calcium, thyroiditis, rheumatoid arthritis, dermatitis, asthm ...
tablets by more than 12,000% over the course of eight years. It sold about 943,000 packets of the tablets to the
National Health Service The National Health Service (NHS) is the umbrella term for the publicly funded healthcare systems of the United Kingdom (UK). Since 1948, they have been funded out of general taxation. There are three systems which are referred to using the " ...
in 2015. 10 mg hydrocortisone tablets which were sold for 79p in April 2008 were £88 per pack by March 2016. 20 mg hydrocortisone tablets in March 2008 were sold for £1.07 but £102.74 in 2016. From 2008 to 2015, NHS expenditure on the drug rose from £522,000 to £70 million.


Locations and facilities


Global headquarters

The company's global headquarters are located in Dublin, Ireland and administrative headquarters are located in Parsippany, New Jersey, US.


Manufacturing facilities

The company has 40 manufacturing facilities in five continents providing the company with a core leadership position in modified release products, solid oral dosages, transdermals, semi-solids, liquids and injectables. The company's manufacturing facilities are located in Belgium, Brazil, Bulgaria, Canada, China, France, Germany, Greece, Iceland, India, Indonesia, Ireland, Northern-Ireland, Italy, Malta, Puerto Rico, Romania, Singapore, Serbia, Thailand, the UK and the US.


Research and development facilities

Actavis PLC has 27 global R&D facilities focusing on the development of modified release products, solid oral dosages, transdermals, semi-solids, liquids and injectables around the world. The company's R&D facilities are located in Belgium, Bulgaria, China, France, Iceland, Italy, India, Indonesia, Ireland, Japan, Romania, the UK and the US.


In popular culture

Due to their production of "
Promethazine Promethazine is a first-generation antihistamine, antipsychotic, sedative, and antiemetic used to treat allergies, insomnia, and nausea. It may also help with some symptoms associated with the common cold and may also be used for sedating people ...
With Codeine
Cough Syrup Cold medicines are a group of medications taken individually or in combination as a treatment for the symptoms of the common cold and similar conditions of the upper respiratory tract. The term encompasses a broad array of drugs, including ...
", the main ingredient in recreational drug nicknamed '
purple drank Lean, also known as purple drank, purp, sizzurp, syrup, wock, oil, joy juice, and several other names, is a recreational drug beverage, prepared by mixing prescription strength cough or cold syrup containing codeine and promethazine with a ...
', the brand has been name-dropped by multiple well known hip-hop artists. Actavis discontinued production of the syrup in 2014. Many rappers, such as Chief Keef and Future mention this cough syrup in their music.


References


External links

* {{Pharmaceutical companies of the United States Companies formerly listed on the New York Stock Exchange Companies based in Morris County, New Jersey Parsippany-Troy Hills, New Jersey Pharmaceutical companies based in New Jersey 1984 establishments in Illinois Pharmaceutical companies established in 1984 Manufacturing companies based in Dublin (city) Generic drug manufacturers Tax inversions Pharmaceutical companies of Ireland 2016 mergers and acquisitions