February 18, 2014 / 12:10 PM / in 4 years

Actavis to buy Forest Labs in $25 bln deal

Feb 18 (Reuters) - Generic drugmaker Actavis Plc said it would acquire specialty pharmaceuticals company Forest Laboratories Inc in a cash and stock deal valued at about $25 billion.

Actavis will pay the equivalent of $89.48 per share, representing a premium of 25 percent to Forest’s Friday close.

The offer comprises $26.04 in cash and 0.3306 Actavis shares for every Forest share.

Dublin-based Actavis, whose biggest competitors include Teva Pharmaceuticals Industries Ltd and Mylan Inc, has recently been acquiring specialty branded drug makers to boost profit margins and sales.

Forest, which acquired privately held drugmaker Aptalis in January for $2.9 billion, faces a patent cliff on several of its biggest drugs, including Alzheimer’s treatment Namenda. (Reporting by Esha Dey in Bangalore; Editing by Saumyadeb Chakrabarty)

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