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news.Irish over-the-counter (OTC) firm Actavis has completed the acquisition of Auden Mckenzie Holdings, a company focused on the development niche generic medicines and proprietary brands in the UK.
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As part of the transaction, Actavis will pay Auden £306m in cash and two-year royalty on a percentage of gross profits of one of Auden Mckenzie’s products.
Actavis president and CEO Brent Saunders said: "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."
Currently, Actavis markets over 650 generic products in the UK, and has about 85 additional products under registration and development.
The acquisition will add around 175 new generic and branded products, as well as a pipeline of about 40 additional products, in various dosage forms, to Actavis’ portfolio.
Actavis generics and global operations president Robert Stewart: "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.
"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."