Actavis Surges to Top Drugmaker Ranks With Acquisitions
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In five years, Actavis Plc has reshaped itself from just another generics drugmaker to one of the top 10 pharmaceutical companies in the world by market value, capping off a blistering pace of dealmaking with the $66 billion agreement to purchase Allergan Inc.
Now it’s forecasting earnings per share of $25 in 2017, or 84 percent more than analysts’ estimates for this year. The plan is to cut $1.8 billion in annual costs and use its sales force, focused on primary-care doctors, to generate more revenue from Allergan drugs like Botox, which have been traditionally marketed to specialists.