US Pharm. 2014;39(12):7.
Irvine, CA—Allergan Inc. has agreed to be acquired by Actavis for $66 billion. This deal stopped a hostile takeover attempt from Valeant Pharmaceuticals International, which had previously offered $54 billion for the company. Allergan was founded in 1950 and is best known for its eye care products, such as cyclosporine (Restasis), the only prescription drug approved to treat chronic dry eye. Its top-selling drug, however, is onabotulinumtoxinA (Botox), which had sales of $2 billion last year. According to Actavis CEO Brent Saunders, the acquisition will immediately make the firm “one of the world’s top 10 pharmaceutical companies.”
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