Today, November 1, 2012, Watson announced that it had completed the acquisition of the Actavis Group, the parent company of Medis, creating the third largest generic pharmaceutical company in the world, with estimated annual revenues of approximately EUR 6 billion.
Combined company is built on the foundation of two strong generic pharmaceutical leaders that provide the highest quality pharmaceutical products and best-in-class service to customers around the world. The combination creates a global powerhouse, with a commercial footprint that includes more than 60 countries across five continents in markets that represent more than 5 billion of the world’s consumers.
In addition, the combination of our parent companies will result in the combination of Watson’s Specifar Pharmaceuticals third-party business and Actavis’ Medis third-party business. These businesses will be combined into a single third-party business, which will ultimately operate under the Medis name, led by Valur Ragnarsson, with headquarters in Iceland. Together, Medis and Specifar will be the largest third-party supplier of pharmaceutical dossiers in the industry, with customers in more than 100 countries.