Actavis Completes Warner Chilcott Acquisition - Quick Facts

(RTTNews) - Specialty pharmaceutical company Actavis plc(ACT) Tuesday announced the completion of Warner Chilcott plc (WCRX) acquisition in a stock-for-stock transaction, valued at about $8.5 billion. The resultant combination will be a new company incorporated in Ireland, named Actavis plc, and its shares will trade on the New York Stock Exchange under the ticker symbol ACT. The new company is expected to generate approximately $11 billion in proforma combined annual revenues, and about $3 billion in annual revenue focused on the core therapeutic categories of Women's Health, Urology, Gastroenterology and Dermatology.

Actavis continues to expect the deal to be more than 30 percent accretive to Actavis non-GAAP earnings per share in 2014, including anticipated after-tax operational synergies, related cost reductions and tax savings in excess of $400 million. Along with the closure of the deal, Actavis will refinance the legacy Warner Chilcott term loan with the new term loan previously announced on August 2, resulting in interest rate savings of about $12 million per quarter assuming contractual amortization.

"The combination of Actavis and Warner Chilcott creates a premier specialty pharmaceutical leader under the Actavis Specialty Brands umbrella. This enhanced business segment is uniquely positioned to meet the healthcare needs of patients around the world — particularly as a leader in Women's Health," said Paul Bisaro, President and CEO of Actavis. He added, "The acquisition more than doubles Actavis' Specialty Brands portfolio and delivers an industry leading pipeline with more than 25 products in various stages of development.