Actavis to Acquire UK Pharma Company Auden Mckenzie
Actavis plc has agreed to acquire Auden Mckenzie Holdings Limited, an UK-based company focused on the development, licensing, and marketing of niche generic medicines and proprietary brands for Â£306 million ($461 million) in cash, plus a two-year royalty on a percentage of gross profits of one of Auden Mckenzie’s products. Auden Mckenzie will be acquired on a debt free basis, and the transaction will exclude Auden Mckenzie’s real estate portfolio.
According to Actavis, the acquisition will make Actavis the number one supplier of generic pharmaceuticals in the UK. Following the close of the acquisition, and the anticipated combination of Actavis and Allergan later this year, Actavis will hold the number three position in the supply of UK pharmaceuticals, according to Actavis.
Actavis currently markets more than 650 generic products in the UK and has approximately 85 additional products under registration and development. The combination with Auden Mckenzie is anticipated to add approximately 175 new generic and branded products as well as a pipeline of approximately 40 additional products, in various dosage forms, for treatments across a broad spectrum of therapeutic areas. The acquisition is subject to certain conditions, including approval by regulatory authorities, and is expected to close in the first quarter of 2015.