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PARSIPPANY, N.J. — Watson Pharmaceuticals Inc. has adopted Actavis Inc. as its new global name and has begun trading under a the symbol ACT on the New York Stock Exchange.
The company said that with the name change, it has kicked off a multiyear rebranding campaign to guide the transition of its facilities, operations and commercial presence around the world to the new company name and logo.
Actavis’ new logo, designed by the leading global identity firm Lippincott, reflects the company’s fast-evolving business as well as its culture and heritage. An icon within the logo reveals a "W" shape emerging from a shaded "A," a subtle historical reference to the Watson acquisition of Actavis. In addition, Actavis has launched a new global website.
Watson closed the $5.6 billion acquisition of Actavis Group at the end of October after announcing the deal the previous April. When the transaction was finalized, Watson had said that in 2013 it planned to make Actavis its new global name.
"We enter 2013 as the world’s third-largest global generic company, with a strong, sustainable financial foundation that is well-positioned for continued long-term growth," Paul Bisaro, president and chief executive officer of Actavis, said in a statement Friday. "With a strengthened global commercial position spanning 62 countries and a commitment to funding R&D at levels sufficient to generate a robust and diversified development pipeline encompassing generics, brands and biosimilars, the new Actavis is positioned to deliver on our promise of double-digit growth in 2013 and beyond."
With its global and U.S. headquarters in Parsippany, N.J., USA, and its international headquarters in Zug, Switzerland, Actavis focuses on developing, manufacturing and distributing generic, branded and biosimilar medications.
Its Actavis Pharma division develops, manufactures and markets generic, branded generic, legacy brands and over-the-counter products in more than 60 countries. It also develops and out-licenses generic pharmaceutical products outside the U.S. through its Medis third-party business.
The company’s global branded specialty pharmaceuticals business, Actavis Specialty Brands, develops and markets a portfolio of about 40 products — mainly in the United States and Canada — that are focused in the urology and women’s health therapeutic categories.
And the Actavis Global Operations unit has more than 30 manufacturing and distribution facilities worldwide and includes Anda Inc., the fourth-largest U.S. generic drug distributor.
"With operations in more than 60 countries and a top 10 position in over 33 markets, Actavis is a dynamic global player that is recognized worldwide as a leader in providing high-quality pharmaceuticals," Bisaro stated. "As we move forward into this exciting future for our company, we are committed to continuing the rapid and seamless execution of our integration planning efforts to provide maximum value to all of our customers and shareholders around the world."
