Actavis is changing its name

Pharmaceutical company Actavis is planning to change the name after it ends big business agreement, purchase for USD 66 billion of botox producer, Allergan.

Actavis communicated it will take business name Allergan since it provides cosnet for name change at the annual stakeholders meeting later this year.

Actavis, headquartered in Ireland, won Canadian Valeant Pharmaceuticals in competition for Allergan with the offer of USD 219 per share. Stakeholders of Actavis and Allergan should vote on the agreement March 10.

Actavis, third-ranked producer of drugs issues per prescription is planning to use new corporative name at the world market for branded drugs but it will keep its name in some regions for some products.

Actavis grew fast through some big acquisitions during the previous years. Last year, it acquired Forest Laboratories for USD 28 billion and before that it acquired Warner Chilcott for USD 8,5 billion and moved headquarters to Ireland from New Jersey.